**OFFICIAL** Trading and Investing Thread- Part -IX-

[badbart]

Bought it a couple days around 147 on an over sold weekly signal. If it doesn't start moving I'll dump it and look for something else. Once my stock shows me a loss I'm out, I don't hold losers or average down. I never get attached to a holding I let the markets tell me what to do. Depending on the open I mght sell some puts on Tsla but closing a negative opening gap has a lower percentage of success then a positive gap.

Let me demonstrate, I sold some puts at the open hoping TSLA would attempt to fill the gap and it did negating a negative day. Ill close my puts if the price falls below 165.

[Fitzwell]

How many stocks for the $500?

Not sure if I understand your question, but I bought around 20 contracts (100 shares per contract) at $.27 per contract. So roughly $540. Theoretically the options are convertible into 2,000 shares, but I've never actually exercised an option, just traded them.

I can attest to getting burnt though. While I've had good success with SPY Options over 2015-2016, I just so happened to buy call options back in August when the market had that 3 day horrendous tank. Lost a pretty penny on that trade. Problem is the stock futures gap down so much over night that by the time morning comes the price is far below your stop and it is too late.

[mike.hunt]

Wtf was talking to friend yesterday and he shows me Robin Hood app. Trade stocks for free, anybody using this?

[whitecollarcrim]

trading FOREX on a simulator, purely USD/JPY a lot of intraday shorting.
turned 250K into 350K. srs. love trading. using a mix of news trading and technicals.

[Who?]

In a matter of two mins crude jumped $2 just now. what happened?

Contracts rolled over.

[xRedStaRx]

Contracts rolled over.

How would futures rolling over affect the spot price? Unless the contracts were for physical delivery. But even you assume that the counterparty bought from the spot market. Am I missing anything?

[thetrebel]

trading FOREX on a simulator, purely USD/JPY a lot of intraday shorting.
turned 250K into 350K. srs. love trading. using a mix of news trading and technicals.

Lol

Now do it with real money baby

[jackedguy87]

GLD doesnt have strong resistance until 122-125 according to the experts. expect a correction around that level that will last awhile then those of you on the sidelines can buy in, thats when I will be adding to my position as well, or sell to buy back in. the large move from the lows in december will need to be consolidated at that time we havnt had a real correction yet but it will come, that will be the next great buying opportunity. you want to establish a longterm position the gains to come will be obscene youve seen nothing yet. Since the peak gold stocks fell by half, then by half again, then by half again...extremely extremely cheap.

my favourite position sandspring resources is up 200% in 6 weeks, it fell from $11 down to 10 cents and the company back then was half the company it is today the only thing that brough it down by 99% was the sentiment on gold! its going above its old high as its going to become a mine fully permitted and all that. I wish I had bought a tonne more at 10 cents but w/e. frank giustra the billionaire has been buying a crapload hes on the board of directors.

[Fitzwell]

trading FOREX on a simulator, purely USD/JPY a lot of intraday shorting.
turned 250K into 350K. srs. love trading. using a mix of news trading and technicals.

Be extremely careful if you get into Forex trading. That is where the big boys play. I've seen more people/clients lose their accounts, houses, families to that sh*t. It is worse than gambling. You have to be the most technical of technical traders with deep pockets and a lot of luck

[AppsBrah]

Be extremely careful if you get into Forex trading. That is where the big boys play. I've seen more people/clients lose their accounts, houses, families to that sh*t. It is worse than gambling. You have to be the most technical of technical traders with deep pockets and a lot of luck

No source but I believe > 85% loses money longterm. Forex is borderline scam, there's a reason there are 1000's of companies offering courses and 'expert advice'. Why spend your time giving webinars to newbies if you can actually make bank with it? lol

Banks/brokers make money in forex, not individual day traders

tfw dad's been learning forex for years
tfw still no profit

[Fitzwell]

No source but I believe > 85% loses money longterm. Forex is borderline scam, there's a reason there are 1000's of companies offering courses and 'expert advice'. Why spend your time giving webinars to newbies if you can actually make bank with it? lol

Banks/brokers make money in forex, not individual day traders

tfw dad's been learning forex for years
tfw still no profit

That's exactly it. We are talking billionaires out there taking your average day trader to the cleaner on Forex. The movements are so fast that the average person could never dream of succeeding long term on Forex (In before someone places one lucky trade and thinks they are a pro). There are multi-billion dollar international companies that have entire segments devoted to being on Forex 24 hours a day, in order to hedge foreign cash positions, etc. In addition to big funds that trade on it. And this is all when business is normal. Google the amount of millionaires that were wiped out back when Switzerland unpegged their currency. Heck, look at the broker themselves, http://seekingalpha.com/article/3013...n-shareholders. FXCM got destroyed.

[xRedStaRx]

That's exactly it. We are talking billionaires out there taking your average day trader to the cleaner on Forex. The movements are so fast that the average person could never dream of succeeding long term on Forex (In before someone places one lucky trade and thinks they are a pro). There are multi-billion dollar international companies that have entire segments devoted to being on Forex 24 hours a day, in order to hedge foreign cash positions, etc. In addition to big funds that trade on it. And this is all when business is normal. Google the amount of millionaires that were wiped out back when Switzerland unpegged their currency. Heck, look at the broker themselves, http://seekingalpha.com/article/3013...n-shareholders. FXCM got destroyed.

You're talking about extraordinary events, sht happens everywhere in the financial markets.

The lowdown is this, forex is a quick way to make money if you have what it takes, and its a quick way to lose it just as fast if you don't.

Chances are, you don't.

[user3657]

Wtf was talking to friend yesterday and he shows me Robin Hood app. Trade stocks for free, anybody using this?

They are legit. I have not tried them yet.....Once I get some more funds im going to open an account. Only downside is that they dont do afterhours trading *yet*

[AppsBrah]

You're talking about extraordinary events, sht happens everywhere in the financial markets.

The lowdown is this, forex is a quick way to make money if you have what it takes, and its a quick way to lose it just as fast if you don't.

Chances are, you don't.

Doesn't change the fact that forex is a joke for individual traders.

Brokers have been exposed for even trading against their own customers lol

[xRedStaRx]

Doesn't change the fact that forex is a joke for individual traders.

Brokers have been exposed for even trading against their own customers lol

It's not a joke. You are assuming that having a win rate over 50% is a joke, when that means a long-term winner with a money management system.

It's called a money-maker, that's how it literally works.

[AppsBrah]

It's not a joke. You are assuming that having a win rate over 50% is a joke, when that means a long-term winner with a money management system.

It's called a money-maker, that's how it literally works.

Okay, please show us your track record of longterm forex profits

[ChristianBBer]

Hope you guy's didn't go balls deep in UGAZ on Thursday !

[ChristianBBer]

I firmly believe there is a **** ton of money to be made in the stock market.

However, after day trading / swing trading for a year and a half.... I realized it'll take about 10 years for me to get good at this.

My biggest problem is discipline, I exit trades too quickly.

My biggest , most painful trade this past week was I bought MPLX @ $17... 1,000 shares and sold out for a very small gain.

Imagine if I held ?

Now it's easy to look at things with 20/20 hindsight but I ignore all the over sold signals....

That was a $6k lesson.

[xRedStaRx]

Okay, please show us your track record of longterm forex profits

This has nothing to do about me. You make it sound like it's a scam, when that clearly is not the case.

[AppsBrah]

This has nothing to do about me. You make it sound like it's a scam, when that clearly is not the case.

No, I say it's a borderline scam. In theory it's possible to be successful, yet it never seems to happen. Literally every single person I've talked to that's into forex says the exact same thing. 'so much potential profit' 'dem pips' 'so close', and every single time 'need more experience before I can finally get profits', and then they watch some more FXCM webinars

Wanna know what they all have in common? no longterm gains

Wiki explains it pretty good. Not to mention the traders at banks/brokers can literally see what their customers are doing and can easily trade against them, which is a normal thing. The odds are very much against you

The foreign exchange market is a zero sum game[2] in which there are many experienced, well-capitalized professional traders (e.g. working for banks) who can devote their attention full-time to trading. An inexperienced retail trader will have a significant information disadvantage compared to these traders.

Retail traders are, almost by definition, undercapitalized. Thus, they are subject to the problem of gambler's ruin: in a "fair game" (one with no information advantages) the player with the lower amount of capital has a higher probability of going bankrupt than a high-capital player. The retail trader always pays the bid/ask spread which makes their odds of winning less than those of a fair game. Additional costs may include margin interest or, if a spot position is kept open for more than one day, the trade may be "resettled" each day, each time costing the full bid/ask spread. In some variations of forex trading, the customers do not obtain normal fungible futures, but instead make a contract with some named company. Even if the company claims to act as their "forex dealer", it is financially interested in making the retail customer lose money. The contract is directly between the customer and the pseudo-dealer, so it is off-exchange one; it cannot be normally registered and traded on future exchanges.[13]

Although it is possible for a few experts to successfully arbitrage the market for an unusually large return, this does not mean that a larger number could earn the same returns even given the same tools, techniques and data sources. This is because the arbitrages are essentially drawn from a pool of finite size; although information about how to capture arbitrages is a nonrival good, the arbitrages themselves are a rival good. (To draw an analogy, the total amount of buried treasure on an island is the same, regardless of how many treasure hunters have bought copies of the treasure map.)

[user3657]

Hope you guy's didn't go balls deep in UGAZ on Thursday !

I almost did on the advice of the board, luckily I didnt. After doing some research it seems like its going to go even lower.

Never take advice from a message board

[thetrebel]

No source but I believe > 85% loses money longterm. Forex is borderline scam, there's a reason there are 1000's of companies offering courses and 'expert advice'. Why spend your time giving webinars to newbies if you can actually make bank with it? lol

Banks/brokers make money in forex, not individual day traders

tfw dad's been learning forex for years
tfw still no profit

Ahem....

Altough do think day traders are the biggest losers. There's a few out there that can make it in retail, but most people have no business day trading

[xRedStaRx]

No, I say it's a borderline scam. In theory it's possible to be successful, yet it never seems to happen. Literally every single person I've talked to that's into forex says the exact same thing. 'so much potential profit' 'dem pips' 'so close', and every single time 'need more experience before I can finally get profits', and then they watch some more FXCM webinars

Wanna know what they all have in common? no longterm gains

Wiki explains it pretty good. Not to mention the traders at banks/brokers can literally see what their customers are doing and can easily trade against them, which is a normal thing. The odds are very much against you

No one said it's easy to make money off of FOREX, being successful can potentially mean double digit multipliers of your initial capital in a few years. There is no such thing as a free lunch. The people you 'know' cashed in large sums starting out, then came back crying about being burned. It takes years of mastery to understand how the market moves, and most importantly, how to take a loss.

Again, these are money making dealers, this isn't the case with an ECN broker, although commish tend to be higher, and price movements more volatile depending on liquidity.

Going beyond level 1 and using market profiles are a real edge when used in trading. Now what does the average trader do in comparison?

It is not a borderline scam, because no one promised anything. It is, and always was, one of the riskiest available markets.

[AppsBrah]

No one said it's easy to make money off of FOREX, being successful can potentially mean double digit multipliers of your initial capital in a few years. There is no such thing as a free lunch. The people you 'know' cashed in large sums starting out, then came back crying about being burned. It takes years of mastery to understand how the market moves, and most importantly, how to take a loss.

Again, these are money making dealers, this isn't the case with an ECN broker, although commish tend to be higher, and price movements more volatile depending on liquidity.

Going beyond level 1 and using market profiles are a real edge when used in trading. Now what does the average trader do in comparison?

It is not a borderline scam, because no one promised anything. It is, and always was, one of the riskiest available markets.

To each his own I guess, but I'll be a non believer till the day someone can show me a longterm track record with said double digit multipliers. I'll stick to stocks and value investing

[xRedStaRx]

To each his own I guess, but I'll be a non believer till the day someone can show me a longterm track record with said double digit multipliers. I'll stick to stocks and value investing

Go to forexfactory, or any other to see a long list of track records.

You should still stick to stocks and value investing, it's a completely different world, and not for the faint heart.

[woodbarry]

GLD doesnt have strong resistance until 122-125 according to the experts. expect a correction around that level that will last awhile then those of you on the sidelines can buy in, thats when I will be adding to my position as well, or sell to buy back in. the large move from the lows in december will need to be consolidated at that time we havnt had a real correction yet but it will come, that will be the next great buying opportunity. you want to establish a longterm position the gains to come will be obscene youve seen nothing yet. Since the peak gold stocks fell by half, then by half again, then by half again...extremely extremely cheap.

my favourite position sandspring resources is up 200% in 6 weeks, it fell from $11 down to 10 cents and the company back then was half the company it is today the only thing that brough it down by 99% was the sentiment on gold! its going above its old high as its going to become a mine fully permitted and all that. I wish I had bought a tonne more at 10 cents but w/e. frank giustra the billionaire has been buying a crapload hes on the board of directors.

Why is sandspring your favorite? They have no income or anything and the company is just hemorrhaging money. In addition to that they have been diluting shareholder equity too.

[DudehBrah]

"Why not have a business/entrepreneur subforum? Mods get in here

Get in here brahs!

[badbart]

Why is sandspring your favorite? They have no income or anything and the company is just hemorrhaging money. In addition to that they have been diluting shareholder equity too.

lol penny stocks, that company trader 44,00 shares at .23 thats 10k worth of stock traded in one day. Good luck unloading a position, 5k sale would drop the stock like a rock.

[Fitzwell]

Forex is a very real venue, I don't think anyone is arguing that it isn't. But it was created initially to simply hedge currency positions. Like everything else (Futures, CDOs, derivatives in general), traders and speculators saw the opportunity to make money. My point is simply that there are far better and safer ways for a day/swing/long term trader to make money. Sure theoretically you could get on there and make some trades as an average retail investor, but it is kind of like an average gym rat trying to step up on stage at the Mr. Olympia. As I stated, I'm not saying it is impossible to be successful, but your chances are nearly non-existent. I have been fortunate enough to work with Hedge funds, retail traders and general day traders over the last 6 years of my career and I've never seen someone with a winning record on Forex.

You want to gamble, just play penny stocks, at least there you are just going against other low level retail traders.

[Fitzwell]

This week's economic calendar

http://www.bloomberg.com/markets/economic-calendar

Thursday/Friday will be big with jobless claims and GDP. Weakness sends the general market up, in my opinion, as we prepare for a delay in interest rate hikes. Strength may also boost the market as the fear mongering of negative interest rates calms. I think either way we may see a positive outcome. All in my opinion of course.