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Strategies & Market Trends
Trader J's Inner Circle
An SI Board Since November 1998
Posts SubjectMarks Bans Symbol
52737 431 0 BABA
Emcee:  Trader J Type:  Moderated
Update: I'm now 53 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
52737Howdy Dave ... that's out of my realm of knowledge to supply any usable infoTrader J-last Thursday
52736Awesome ... thanks for the updateTrader J-last Thursday
52735I live in New England. While traveling around I see thousands and thousands of dave rose-last Wednesday
52734Update on my test trial where I purchased SCGE fund portfolio (remember this is ggamer-last Wednesday
52733TRADES: I did add KO, WYNN and VNQ to my already existing positions in those nTrader J-June 25
52732CRWD: Performing really well. Nice catch on that one. I did the catch and relTrader J-June 25
52731Completely agree with this. As the nation wrestles with what to do about the seTrader J-June 25
52730Maybe we get a chance if we see another 100 S&P point down next days/weeks. E_K_S-June 24
52729I've been looking to add more PEP. My last entry was a good one at $122 butTrader J-June 24
52728Added PEP and LEG to my long term Buy list but will start small adds 5%-10% loweE_K_S-June 24
52727Finally getting some weakness and I think it will continue to build for the balaTrader J-June 24
52726WORK - I think it's only a matter of time before this one catches fire and rTrader J-June 23
52725TRADES: Bought WYNN at $84 and BA at $184.42. Limped into both here. WYNN on Trader J-June 23
52724TRADE: Added T to my current holding at $30.40Trader J-June 23
52723TRADE: Added first position of VNQ as a long hold at $80.15.Trader J-June 23
52722TRADES: Added more NCLH and a new position in TRIP at $18.40Trader J-June 23
52721Awesome, I own RTX. LOL. So, really?!? That is what we're down to. Oh howTrader J1June 22
52720Shock and Awe melt up! If only we knew .... Are we missing further gains to coggamer-June 20
52719TRIP isn't a long term hold, it's one of the ones I follow in my beaten Trader J-June 19
52718TRADE: Out SQQQ at $8. No one home.Trader J-June 19
52717TRIP - Two items of interest - This stock has been on a straight decline from ggamer-June 19
52716TRIP: Sitting right at a good support level for those looking to trade the coviTrader J-June 19
52715Thanks for the info ... that will be interesting to track!Trader J-June 18
52714I would like to update you on a new strategy that I have already put in place anggamer-June 18
52713Market is showing pretty good resilience and many names have come off recent higTrader J-June 18
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