SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends
Trader J's Inner Circle
An SI Board Since November 1998
Posts SubjectMarks Bans Symbol
55149 466 0 SNOW
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.
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):
ReplyMessage PreviewFromRecsPosted
55149LOL. I'm glad I'm not a coffee drinker. That said, everything up has gonTrader J-9 hours ago
55148the inflation gods giveth then taketh away- I was patting myself on the back forMadharry-9 hours ago
55147OT: Eastern Oregon with this trip but I'll be in Tucson in Nov.Trader J-last Thursday
55146Very steady up day today across all three major indexes, let's see what happJ.F. Sebastian-last Wednesday
55145have fun. if you end up near me give me a call. I am just sitting on my hands noMadharry-last Wednesday
55144OT: Heading out on a little in-law visit for the next 8 days. Will be checking Trader J1last Wednesday
55143TRADE (Trade Long) - Bought C at $53.50. This is a 1/3 position and a reentry afTrader J-last Wednesday
55142TRADE (Bridge Long) - Bought HPQ at $33.40. First position. Little consolidationTrader J-last Wednesday
55141TRADE: Added to PYPL at $96.65. Still have at least one more leg to add and willTrader J-last Wednesday
55140TRADE: Just a fun trade of BBBY at $11 on the back of the WSB apes. Did some resTrader J-August 8
55139I started new position in AU Friday. They are starting to mine their NV propertE_K_S-August 8
55138TRADE (Bridge Long): Bought GOLD at $16.34. Same premise as NEM trade. Yielding Trader J-August 8
55137TRADE (Bridge Long): Bought NEM at $45.30. Purchased for a combination of recentTrader J-August 8
55136TRADE (Bridge Long): Bought NVDA. This is 50% of the position I sold in a tax loTrader J-August 8
55135I've seen many charts like this posted in years past around the Interwebs, bJ.F. Sebastian-August 7
55134Gold and gold stocks: These charts of Newmont (NEM) and Barrick (GOLD) are pretTrader J-August 6
55133HP: Well, this is embarrassing. I was doing my Sat AM positional review and notTrader J-August 6
55132Barron's Article: For those of you with a subscription, this is VERY intereTrader J-August 5
55131TRADE (Bridge Long): First position in HP at $41. This is a long term hold for dTrader J-August 5
55130TRADE (Bridge Long): Added my second position in LEG, this time at $40.50. FirstTrader J-August 5
55129Yup, I have those as well ... the difference is in your time frame and the amounTrader J-August 5
55128TRIP/EXPE/Hospitality: This space looks like it has bottomed to me and I believTrader J-August 5
55127there seem to be a lot of models out there based upon growing and getting marketMadharry1August 5
55126DKNG: Interesting report and generally quite positive. Wish I would have doubledTrader J-August 5
55125Jobs/Economy: Recent economic and jobs numbers are really creating a push-pull Trader J-August 5
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):