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re: Any day traders out there?
Posted on 10/10/22 at 11:06 pm to slackster
Posted on 10/10/22 at 11:06 pm to slackster
quote:
You’re buying calls on a 3x daily leveraged Nasdaq ETF. You seem like you’ve got your risk management in tip top shape.
If you don't realize the NASDAQ is going to recover and those calls are going to pay, then you don't know what you're talking about, sooo.... your advice sucks.
1
Posted on 10/10/22 at 11:07 pm to DTRooster
quote:
Don’t even try to talk sense with a Gump
Again. Nothing stopping you from opening a paper trading account and proving me wrong unless you don't like making money.
Posted on 10/11/22 at 2:20 pm to Gideon Swashbuckler
Nah bra, I’m good. Do your thing, I’ll do mine. Good luck
Posted on 10/11/22 at 2:34 pm to Gideon Swashbuckler
quote:
If you don't realize the NASDAQ is going to recover and those calls are going to pay, then you don't know what you're talking about, sooo.... your advice sucks.
, what’s your strike?Posted on 10/11/22 at 3:06 pm to slackster
quote:
what’s your strike?
None of your fricking business.
But $50 would still be easy money.
Here's a question for you.
How long do you think it'll be before the NASDAQ is back to 13k??
Posted on 10/11/22 at 3:17 pm to Gideon Swashbuckler
quote:
Again. Nothing stopping you from opening a paper trading account and proving me wrong unless you don't like making money.
My man. You need to study how risk/reward ratio and win rate determine profitability.
You are risking 100% for a potential reward of 2%. That is the definition of picking up pennies in front of a steamroller.
Earlier you referred to stop losses as a loser's mentality. That is exactly right. You better learn how to lose. The professionals are profitable because they have small losers and big winners. They can be wildly profitable with a 25-30% win rate.
Posted on 10/11/22 at 4:48 pm to RidiculousHype
I paper traded for almost 18 months. I studied trends for 2 years. It's not like I just started this. I took heavy losses fine tuning my strategy. Again, nothing stopping anyone on here from proving me wrong.
The number 1 Top Gainer today was a penny stock. If you'd bought it at 0800 it would've sold for a 2% profit at 0805. FNHC is the ticker. Kinda sucks because it was up 122+% on the day, but I'm only after 2%/day.
The professionals are profitable because they use other people's money, and they get bailed out when they fail. Citadel and Melvin Capital lost BILLIONS in AMC. I'm not in AMC. I'm simply making a point. After that Melvin got propped up to the tune of $3b by a larger hedge fund. These motherfrickers don't have to worry about losses. They always get bailed out. The game is rigged. They don't have stop losses. They move the market, until they get caught with their pants down like with GME and AMC because they can just remove the "buy" button from retail.
Professionals aren't profitable because they mitigate losses with stop loss strategies. They're profitable because they don't have to worry about losing.
The number 1 Top Gainer today was a penny stock. If you'd bought it at 0800 it would've sold for a 2% profit at 0805. FNHC is the ticker. Kinda sucks because it was up 122+% on the day, but I'm only after 2%/day.
The professionals are profitable because they use other people's money, and they get bailed out when they fail. Citadel and Melvin Capital lost BILLIONS in AMC. I'm not in AMC. I'm simply making a point. After that Melvin got propped up to the tune of $3b by a larger hedge fund. These motherfrickers don't have to worry about losses. They always get bailed out. The game is rigged. They don't have stop losses. They move the market, until they get caught with their pants down like with GME and AMC because they can just remove the "buy" button from retail.
Professionals aren't profitable because they mitigate losses with stop loss strategies. They're profitable because they don't have to worry about losing.
Posted on 10/11/22 at 6:23 pm to Gideon Swashbuckler
quote:
None of your fricking business. But $50 would still be easy money. Here's a question for you. How long do you think it'll be before the NASDAQ is back to 13k??
So defensive.
Let’s say it takes 3 years to get back to 13,000 on the nasdaq… what will the price of TQQQ be then?
Posted on 10/11/22 at 6:50 pm to slackster
quote:
3 years
3 years is a pretty conservative prediction but TQQQ could easily be above $50-60 then. I don't plan on holding my calls until the expiration though. I usually ride them to 20-30% profit and sell.
When the NASDAQ was 16k it was $160ish and split 2:1 in late Nov/Dec 2021. I'm not defensive. I say "frick" a lot. I really didn't mean it that way.
This post was edited on 10/11/22 at 6:53 pm
Posted on 10/11/22 at 7:15 pm to RidiculousHype
quote:
Earlier you referred to stop losses as a loser's mentality
da fuq? that tells me right there he has never traded commodities.
If you do not use stop losses you will get your arse handed to you in futures.
i will assume he has only traded stocks. still tho.
This post was edited on 10/11/22 at 7:18 pm
Posted on 10/11/22 at 7:25 pm to CaliTigerHB
Just buy whatever stocks nasty Nancy Pelosi does .
Posted on 10/11/22 at 7:25 pm to Fat Bastard
quote:
that tells me right there he has never traded commodities.
I trade stocks. That's it. No reason for me to trade anything else at this point. They're all I've studied and trended.
I've lain out my strategy, but I don't see anyone volunteering their own. I'm not saying my strategy is for everyone. You have to ultimately do what makes you money. I'm just outlining what I do.
Feel free to share your opinion on how to not get "your arse handed to you" in futures or commodities. I'm always interested in learning new strategies and how others navigate the market.
Posted on 10/11/22 at 7:35 pm to Gideon Swashbuckler
quote:
3 years is a pretty conservative prediction but TQQQ could easily be above $50-60 then. I don't plan on holding my calls until the expiration though. I usually ride them to 20-30% profit and sell. When the NASDAQ was 16k it was $160ish and split 2:1 in late Nov/Dec 2021. I'm not defensive. I say "frick" a lot. I really didn't mean it that way.
But as I hop you understand, TQQQ’s daily 3x leveraging means there is no 1 to 1 correlation between 13,000 Nasdaq and $50 TQQQ.
For example, Nasdaq closed at 10,542 today. TQQQ closed at $18.14. Nasdaq closed at 10,632 on 9/23/20 and TQQQ closed at $28.2 (split adjusted).
Alternatively, the last time TQQQ closed at $18.14 or lower, Nasdaq was at 9,000.
If there is quite a bit of volatility on the way to 13,000, TQQQ may not even be positive. Nasdaq is up 30% since 9/1/18, but TQQQ is only up .36%.
Posted on 10/11/22 at 7:56 pm to slackster
quote:
But as I hop you understand, TQQQ’s daily 3x leveraging means there is no 1 to 1 correlation between 13,000 Nasdaq and $50 TQQQ.
I do understand that. That's why I don't hold until expiration.
I almost sold last week when the NASDAQ went to 11,176 on 04 Oct and TQQQ went up over $22/share on the 5th. My calls were up nearly 10% that day.
I'm betting longer on this than I normally do. The NASDAQ will absolutely get a huge bump if Republicans win back both house and Senate.
And TQQQ is 3x leveraged on the NASDAQ, but I understand there's no daily correlation, hence the long calls. Over the life of the fund its pretty close though. It moves however the NASDAQ moves on a long enough time line.
It's only up 0.36% since 9/1/18??? It's really easy to cherry pick the start and stop of your time line to make a point. For sure, but you missed that entire climb to $160 and the 2:1 split in 2021 during that time. I'm not planning on holding this long term. That's what you have to understand.
Hahahahahaha.
This post was edited on 10/11/22 at 8:02 pm
Posted on 10/11/22 at 8:07 pm to Gideon Swashbuckler
I don't know the prices of TQQQ prior to the splits in May '18, so I can't say what the value is today vs what it was then.
But the number of shares has increased by 6x and again, it had a run to $160 prior to that split in Jan '21.
So sure, if you bought in Dec '21, sucks for you.
I didn't.
But the number of shares has increased by 6x and again, it had a run to $160 prior to that split in Jan '21.
So sure, if you bought in Dec '21, sucks for you.
I didn't.
This post was edited on 10/11/22 at 8:13 pm
Posted on 10/11/22 at 8:22 pm to Gideon Swashbuckler
The NASDAQ was 3065 and some change on 10 Oct 2012.
So it's more than tripled in that time.
TQQQ is up over 1500% in that time. So it's performed much better than the NASDAQ composite.
So it's more than tripled in that time.
TQQQ is up over 1500% in that time. So it's performed much better than the NASDAQ composite.
Posted on 10/11/22 at 8:32 pm to Gideon Swashbuckler
quote:
Also, TQQQ is relatively the same price as it was on 9/1/2018, but there was a 3:1 split in May of 2018 and a 2:1 split in Jan 2021. So even though the price is the same as it was on 9/1/21, it's worth twice as much because of the split. So the % is misleading. It's worth today 6x as much as it was from May 2018 and the 3:1 split even though it's the same price.
No, my numbers are split adjusted. TQQQ was like 71.44 unadjusted.
Posted on 10/11/22 at 9:18 pm to slackster
quote:
No, my numbers are split adjusted. TQQQ was like 71.44 unadjusted.
I see, well there still was a run up to $160 prior to the split in 2021. I would love that kind of run right now, but I'd never make it to $160. I'd sell way before that.
Posted on 10/11/22 at 9:27 pm to Gideon Swashbuckler
Missing in your theory is that 3x ETF bleeds value every swing up and down. If the market whipsaws on the way down and then back up it can lose 20-30% in the blink of the eye while the index ends up where it started. 3Xs are never for a long term hold, I’ll repeat the never, quick hitters only. Good luck with that, you might need it. I’ve made some cheese with TZA but had a few chew my arm off moments too
Posted on 10/12/22 at 4:54 am to DTRooster
Again, over the last ten years TQQQ is up 1500+%. But I hear what you're saying.
I'm not planning on holding them long. I'm planning on selling for profit around the election or after the New Year.
I'm not afraid to avg down either. LOL.
I'm not planning on holding them long. I'm planning on selling for profit around the election or after the New Year.
I'm not afraid to avg down either. LOL.
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