The Stock Trading and Shitposting thread.

I forgot to update!

• i closed the Netflix spread at full profit! Almost 22% for 2ish weeks. I’ll post screenshot once I am back at the PC
• RKLB is still up, but down from the 40% gains to 25%. This is where I struggle with reading strategy and having a “plan”. My “plan” with this particular position is a long term max run, this is not a day trade. But I do feel like I could have done a better job of monitoring and reading the ebb and flow here to have chased out at 40% and buy my long back in now at the current. I’m not losing sleep over it, but it is something I wish I were better at.

of course I can offer flip side stories where I was up over 20% on a long and thought “this has legs” only to close it as a 10% loss. It’s something mental I have not learned to control with this particular type of trade(options 6+ months out). Short term I am much better disciplined, I either setup a close on either side the same day I place trade or once I hit target setup a market trail(doesn’t always have to be market but %’s on options don’t always work well depending on liquidity and spread).

I really need to figure out how to handle the far out long positions better.

ahh, last point is that I plan to enter 1-3 new trades next week as all my positions closed. I’ll continue to post them if people want.

Passed my first combine on Topstep, took me 2 tries, excited to trade on the funded account. Averaged around $600/day trading NQ on a 50k account, hopefully I can carry that over to the real one.

NQ is just so much better than ES for scalping. You can get in and out in 10 seconds and make $100, just have to be quick.

An update:

• Still holding RKLB long and still up 30% overall, which is down from the high of 40% but no reason to think this won't hold or grow. I don't really have a planned exit strategy for this trade which is terrible. I've decided to at least wait until earnings at this point and reassess
• I took a long position in HOG, if it stays above the 100DMA and breaks through resistance I'll put a trailing stop on it or be looking to ride it out(no pun intended). If it struggles at the resistance level I will let go for the 5-10% current gain

I do think HOG has some possibility to go back into the 40's again which could turn a decent profit on this one.

Foler said:

Wow, I really like what you have going on there with RKLB, Pal.

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‘lol, don’t know you well enough to sense if sarcasm.
but one could argue the right move was to sell when I was 40% up and move on to different pastures. sure, I may hold for 3 more months and post again that I’m at 50%! But really I just made 10% more than my high by holding for 90 days. Not a good trade even by my little metrics.

this is probably a textbook example of being too involved, at least for myself. If this were an unknown ticker I would be out already but because I believe in the company and want it to succeed I held hoping for the moon. Let’s see if I eat crow in 3 more months.

in other news though, that hog trade had an amazing day and I’m already up 27% in a day. I will sell or hold tomorrow based on pre/early market movement. If it can run back into its low 40’s range I’ll hold, if resistance shuts it down I’ll exit. Either way I am happy with this choice and now I’ll move to research the next!!

Well, the HOG worked out well and I paper handed the shit out of it 40% gain in a day.

I'll let you know what I find next

please tell me if these posts are annoying. I put them here instead of normal investing thread because that one seems more philosophical, general market trends, big movers, etc

Anyway, two notes:

• While I have still have faith in the RKLB position, it's right back to breakeven(up 3% or so /sadpanda). Should have sold at 30%+ and rebought if I liked it that much. This is the 4th or 5th time I have not listened to my own internal rules and suffered. I only seem to do it on these long(3 month out) calls because I keep thinking time is on my side....until it's not. Until I get better disciplined I may avoid them
• Took a new LLY position, hoping for a moderately quick 15%ish but if it's moving strong in my favor I will let it run for the entire thing. It is a bit risky with the LLY ATR, but it EDIT(is going into) earnings, has a support line around the strike, and 100DMA that it is looking like it's holding
  • Bet is around 15k risk for those not familiar with spreads, max gain is about 3k, I'd take 1.5k

Ossoi said:

View attachment 539148

I've sold my holdings in Trinseo but will buy back in when it dips again to $2.80. I expect it to drop under £


- I started writing this earlier but got interrupted.

it dropped back to $2.90 if it drops lower than I'll buy back in. I expect it to be back over $3 after earnings next week if not before

Edit: bought in today at $2.84

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I don't know much about Trinseo but one thing I fell for a few times was dipping into the same penny stock well too many times. I did 5 successful swings in a row, then it bombed and I held the bags like a moron with no stop loss for about 9 months. It finally went back up and I got out and never looked back.