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Strategies & Market Trends
Trader J's Inner Circle
An SI Board Since November 1998
Posts SubjectMarks Bans Symbol
55735 470 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

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.

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ReplyMessage PreviewFromRecsPosted
55735TRADE (Bridge Income): Sold VZ at $35.01 in a loss harvest transaction. Will repTrader J-3 hours ago
55734SNOW: Drop and full recovery. Really tells you something about this AI move and Trader J-last Friday
55733Value/Cyclical/Blue Chips/Etc. - As I was writing over the past couple of days, Trader J-last Friday
55732Re: MMM; T & KSS - Special opportunities Been accumulating MMM w/ a Buy yE_K_S1last Friday
55731MMM: Big jump (8.6%) today on settlement charges which helps remove some of the Trader J-last Friday
55730TRADE 6/1 (Roth): Little rotation in the Roth yesterday. Sold PYPL and 25% of DKTrader J-last Friday
55729TRADES (Alt Portfolio): I completely liquidated all positions in one particularTrader J-last Thursday
557286/1 Market Notes: Some very interesting notes, happenings, reports and action tTrader J-last Thursday
55727It actually goes deeper than that, but you are very correct. From pharma, medicaTrader J-last Wednesday
55726It seems the large med companies are out of favor. AMGN now 220. Planning to adCusterInvestor-last Wednesday
55725TRADE: Initiated CLF at $13.80. This is a position trade given recent price actiTrader J-last Wednesday
55724TRADE: Added ABBV at $137.44. One of my favorite companies including a nice 4.31Trader J-last Wednesday
55723TRADE: Purchased WBA at $30. This is my third entry on this name yielding 6.4%. Trader J-last Wednesday
55722TRADE: Purchased CVS at $67.40. This is my second addition of this stock with tTrader J-last Wednesday
55721TRADE: Out ETSY at $81.29. Horrible trade on my part and I just need to move on.Trader J-last Wednesday
55720TRADE: Out SNOW 2025 $145 Calls. They were up 40% since purchase and while I hadTrader J-last Wednesday
55719CVS: For you dividend munchers, CVS finally looks like it may have found a bottoTrader J-last Wednesday
55718MMM: One of those stocks that just continues to elude me and turns into losses Trader J-last Wednesday
55717SNOW: Continues its impressive run following the huge earnings dive. SNOW fell tTrader J-last Wednesday
55716Regrets: AI - I had been watching AI (the stock) since it was close to $30 and nTrader J1last Tuesday
55715QCOM: Continues to rally from my double-up tax loss PURCHASE made on 5/23 at $10Trader J-last Tuesday
55714PATH: After a little more research, I did add PATH to the AI screen. I'm stiTrader J-last Tuesday
55713SNOW: As expected, traders/investors are taking advantage of the post earnings dTrader J-last Tuesday
55712TRADE: Odd little purchase here and it's a swing for the fence fun trade ONLTrader J-last Tuesday
55711SNOW Earnings: Here is the most direct report on SNOW's earnings: marketwaTrader J-May 27
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