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Strategies & Market Trends
Trader J's Inner Circle
An SI Board Since November 1998
Posts SubjectMarks Bans Symbol
53481 444 0 BABA
Emcee:  Trader J Type:  Moderated
Update: I'm now 54 and this thread was started way back in the late 90s during the .com boom! Oh the things we've seen since then.

Rather than update the text below, I wanted to leave it as much of it speaks to the legacy of the thread, my values and what I hope(d) to accomplish here on SI. Now that I'm retired, I'm starting back on the thread with the hope of getting a close knit community of individuals wanting to share objective information with each other for group benefit. Nothing more, nothing less.

My own foundation is one of values, ethics and integrity along with a lot of respect, humility, discipline and so many other things tossed in. I hope anyone who chooses to contribute here has many of the same qualities.

Good luck all!

---------------------------------------
Hello to all:

As a quick introduction, let me introduce my self. I live in the Pacific NW. I am 48, and have been actively participating in the US markets since 1989. As much as I would like to consider myself a long term investor, I am by nature, a day trader. I hold long term issues merely by necessity.

I have started this thread because of a number of requests asking for input, tips, picks, thoughts, etc. I do not believe any one source has all the answers, or for that matter, even a majority of the answers. We all have our own goals, personalities, and styles. Most of all however, their exists strength in numbers. We are a diverse people, with diverse backgrounds and careers; therein lies the power. Those that are free with their information and are willing to share openly, will do well as we gain trust in others that do the same.

I ask that in OUR forum here, that you refrain from the personal attacks and pointless, baseless hyping and trashing, that plague other boards. Allow those that share good information, research and knowledge to rise to the top and ignore those obviously have selfish goals in mind.

Not one of us makes the right decisions all the time. As a trader, you MUST accept this if you are to be successful. Following are some very important tips that I believe all traders should keep in mind:

1. It is ok to jump on a stock without doing a lot of research. I
have done this many times but only on the lead of a fellow
trader that I have come to trust. A small amount of basic, good
research can always be done. It can take less than a minute,
but will help identify what you are getting into.

2. Never blame someone else for losing YOUR money, it was solely
your decision to "jump in". Keep a record of those that
often make bad decisions.

3. NEVER get emotionally tied to a stock under any circumstance.
ANY gain, is better than any loss. And a small loss is much
better that a larger one. This may sound obvious but I have
seen many a trader and investor get caught by saying "I can't
sell now".

4. Do not get greedy. If you are happy with a result, take it off
the table and don't look back.....unless looking for a reentry.

5. Become an unemotional, trading machine. Allow yourself to learn
from past mistakes and use it to your benefit next time. You
WILL find that patterns can, and often do, repeat themselves.

6. Don't boast about gains, or deny losses. All of us have made
good picks and bad picks. A good track record and respect from
fellow traders is the ultimate reward.

7. Learn from others. Don't be afraid to admit that you don't
know ... it will cost you in the end.

8. Don't beat yourself up because of hind-sight. We all do, but
the main goal is to protect yourself from large losses and take
advantage of momentum to lock in any amount of gains. You will
often find yourself selling into sudden weakness only to find
the issue soon rising on unexpected momentum.

9. As a related note to #8, every second of the trading day
presents an opportunity to make money.

10. Work at becoming better. Do your research and homework to
discover what may move an issue the next morning.

11. Don't discount your gut. Yes, I told you to be unemotional,
but I have always listened to my gut feelings. I believe
that your gut is your unconscious telling you that you may
have missed something.

12. Understand some of the tax laws relating to trading and
investing.

13. I said it before, and I say it again: Don't get greedy!!

14. Become a member of SI. It is quite ok to "lurk" but you will
be amazed and how much more involved and successful you will
be by actively participating. Lurk for a bit, make a little
money, and the make the lifetime investment into SI.

15. But most of all, have fun.

The last thing I would like to say is that trading may not be for everyone but for an entirely different reason that you may think. Anyone can participate; no amount of money, wealth, experience, status, work ethic or anything else will preclude you from trading. They may make a difference in your success rate, but ultimately, anyone can participate. If you can't stand to see any amount of
money be lost, please do not trade. If you can't lose money, you won't have fun, and if you don't have fun, you won't do well.

I firmly believe that you will be far more successful at ANYTHING you do if you truly enjoy it.

With all of that said, lets get it on.

J.
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ReplyMessage PreviewFromRecsPosted
53481TRADE: Out PLUG ($44) and RIOT ($46.50) here. Both moving against my expectatiTrader J-an hour ago
53480TRADE (Updated): Got RIOT at $47.75 in the Roth and primary account. 50% positTrader J-4 hours ago
53479NCLH: Was going to sell at open but got busy on a side project and figured 20 mTrader J18 hours ago
53478TLRY Calls: Examining the TLRY 1/22 Calls, I'm looking at the In the Money Trader J-8 hours ago
53477Major miss on my part. My two favorite WSB plays are GME and KOSS and I had botTrader J-8 hours ago
53476Financials to remain in focus as well. As an ex-financial executive (in I.T.), Trader J-8 hours ago
53475NCLH: May be selling this name in the next day or two. From $22 to $33 in the Trader J-8 hours ago
53474GME showing $150 pre-mkt. CrazyFast Eddie-7 AM
53473BREAKING: Gamestop Stock Back in the News – WAY UP AT CLOSE – Reddit Crashes froE_K_S-yesterday
53472There is finally premium in them and I was thinking long shares + calls but was Trader J-yesterday
53471Round 2 Of Face-Ripping Short Squeeze Arrives Just As Hedge Funds Pile Into ShorE_K_S-yesterday
53470I had a chance at $138. Also AMC moving had a chance at $9.90 Deja Vu All OverE_K_S-yesterday
53469GME - monster run TLRY - is right behind it Do you think it is worth going bacggamer-yesterday
53468GME: Dammit… I was so close to taking a position on a secondary fire trade as ITrader J-yesterday
53467We just missed GME while you were typing. Crazy!!!!ggamer-yesterday
53466That's gonna be tough to replicate. I will endeavor to be better.Trader J-yesterday
53465Dr. TJ, You are 15 days late in finding your next TLRY for 20X? Please due yggamer1yesterday
53464NCLH: Breakout above previous resistance.Trader J-yesterday
53463TRADE: Out RIOT at $55.26. In at avg of $50.5. Trying to keep things short teTrader J1yesterday
53462NCLH: The last Covid beaten stock I hold is NCLH with a cost of $18.50. Still Trader J-yesterday
53461Financials: I keep forgetting that in addition to my top three financial holdinTrader J-yesterday
53460ALB: The stock I want most in the EV space is ALB. Would love to see an EV wasTrader J-yesterday
53459Looks like we're going to get a decent gap on the open of some of the meme aTrader J-yesterday
53458Microstrategy (MSTR) Buys Additional $1 Billion Bitcoins For $52,765 Average PriE_K_S-yesterday
53457Yeah, the financials are really buoying my non-taxable primary account. Well, tTrader J-Tuesday
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