OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[johnnyredstorm]

Yep in all honesty, if you don't get a headstart in the meantime, find your niche, fool around, learn from mistakes etc. before real cash is involved, you'll either lose some dough or grossly underperform your potential. Just get on the simulator and have some fun developing a strategy that works for you. Study and practice and when the time is right, you'll be more prepared.

 

[bravelude]

Not gonna waste time, go ahead and lose money, thats how you learn. Thats the thing with money and the markets. Its like religion, all the talk about going through step 1,and all that dont mean a damn thing. Reading about mkt wiz and reminiscenses dont mean anything. It‘s only when you lose that massive amount do you really grow up. At that point, you either decide if this is for you or not.

The stock operator and recommended reads are more applicable for individuals who have been through those emotions. Great read none the less, if you understand. You read it because youll see and understand the emotions individuals face. Itd more of a read of.human behavior than anything else.

Every hopeful wishes they were livermoore or tudor jones, but the reality is often and obviously not the case.

So yes, lose some money!!

The market changes every second, just like the NBA, and any generation. The tape today is and was not the tape of many decades ago. You must understand this, and even understanding this will not guarantee you anything.

Any body that has been in it, knows what I mean. Dont watch too much Michael Douglas either.

Now if the IRs would.lift that 3k, it would be better.

 

[johnnyredstorm]

it's true i've learned so much as a result of blowing up last year.

best advice i could give is keep your account size small the first year less you can burn through the better

 

[moderndarwin]

Okay, thanks for the information. Yeah, I searched paper trading right after I posted that silly question (my bad). One last silly question that I'm sure has already been answered: what is the best platform to trade on (with real money) and what is the best platform to do some free paper trading?

I recently signed up for an invite to some new startup that is trying to do completely commission free trading (Robinhood). Anybody get down on this?

Shameless plug if you are interested in being invited to the platform: https://www.robinhood.com/?ref=hAbigs
It says I'll get access earlier if people sign up using that link.

 

[capital sb]

Honestly Robinhood could never be used as your sole platform. IMO if you are trying to be a real trader start with a real platform on the computer.

You can't get around commissions its a part of doing business.

 

[johnnyredstorm]

Thinkorswim

 

[wizards23]

Yeah I got a robinhood account that I never used. I stick with think or swim and DAS trader

 

[johnnyredstorm]

sayonara RIG

dividend cut, CEO out, RIP

I'm never trading SLV or GLD again

SPY with the ill fake out at the open today. Took some FB 76 weekly calls at .65 exited at .75 since SPY was looking to washout but it bounced off the bottom of value and FB kept on trucking. Wouldve been a nice double but hey I made lunch money so I can't complain. Just could've been better.

 

[tripleddd]

Im looking to put on a NFLX swing long March 500s. 

 

[johnnyredstorm]

NFLX looks decent just be careful and have a plan since theta can get you with March expiration if NFLX chops around.

 

[tripleddd]

True. Also considering selling Puts on every dip as well.

 

[johnnyredstorm]

I never sell puts/calls naked since last thing I want is potential blow out risk. Just have a plan and watch your premium levels. 31 days till expiration. 465 straddle implies about a 33.80 move by expiration in either direction. Just have a plan and watch that premium.

 

[based mod]

> FEB 17

before

AGIO - Agios Pharmaceuticals
MDT - Medtronic
MGM - MGM Resorts

after

ADI - Analog Devices
AMC - AMC Entertainment
FOSL - Fossil Group
JACK - Jack in the Box
RAIL - FreightCar America
NBR - Nabors Industries
PBPB - Potbelly


> FEB 18

before

ANGI - Angie's List
BGS - B&G Foods
DUK - Duke Energy
GRMN - Garmin
H - Hyatt Hotels
HLT - Hilton Worldwide
VA - Virgin America

after

ACT - Actavis
ARII - American Railcar Industries
EOG - EOG Resources
MRO - Marathon Oil Corp
SCTY - SolarCity
TERP - TerraForm Power
TRN - Trinity Industries
WMB - Williams Companies


> FEB 19

before

FUN - Cedar Fair
HRL - Hormel Foods
IMAX - IMAX Corp
LINE - Linn Energy
LNCO - Linn Co
NBL - Noble Energy
PCLN - Priceline
SIX - Six Flags Entertainment
WMT - WalMart

after

ANET - Arista Networks
ED - Consolidated Edison
FUEL - Rocket Fuel
FRGI - Fiesta Restaurant Group
JWN - Nordstrom
MRVL - Marvell Technology Group
NDLS - Noodles & Company
TSRO - Tesaro


> FEB 20

before

COG - Cabot Oil & Gas
DE - Deere & Company
ENB - Enbridge
WLH - William Lyon Homes

 

[johnnyredstorm]

http://ivanhoff.com/2014/03/06/difference-george-soros/

 

[noskey]

Thoughts and feels on Nordstrom (JWN)?

 

[wizards23]

I would want the stock to hold over 77.50 (support). 80-80.50 is resistance. You could buy the stock now with a stop loss just below support or you could buy the stock after it breaks above resistance. If it doesn't hold 77.50, JWN could test 75. What is your timeframe noskey ?

 

[johnnyredstorm]

top of value for the year is 79.25, for the month 78.80. if it stays under 78.80 and breaks below 77.75, 76.10 is possible. top of value for the day is 78.23. so basically like Wiz said, I'd look to buy the break above value for the day or month and target the top for the month or year, or i'd wait for that pull back to 76.10 with a stop just below it to buy the dip for a bounce. all depends on how aggressive you wanna be.

 

[tripleddd]

I can't believe NFLX left me behind 

 

[johnnyredstorm]

did a real **** job this morning that was completely avoidable. had a plan to get long FB as it held 77.14, tried to get filled on some 77.50 calls, didn't and like a moron didn't wanna pay up a few pennies so i went over and forced a TWTR trade. added to a loser and wound up cutting it off at the lod like an idiot. just terrible execution all around. can't get bored, can't be afraid to pay up a few pennies on an idea i like. gotta be quicker taking a loser off and can't be adding to a loser whimsically like i did. very avoidable day that has me down on the week now

 

[noskey]

I would want the stock to hold over 77.50 (support). 80-80.50 is resistance. You could buy the stock now with a stop loss just below support or you could buy the stock after it breaks above resistance. If it doesn't hold 77.50, JWN could test 75. What is your timeframe noskey ?

I've got an April 75/85 strangle. At this point I'm hoping they miss earnings.

 

[johnnyredstorm]

FB see this is why when you have a plan, you follow it no matter what. I didn't wanna pay up a nickel and those contracts were good for over a triple. Wanted to take it long as it hold the POC for the month 77.14 targeting the top of value for the month 78.03. broke above value and boom, we have this monster move. really did a **** job today and I'm better than this. till next time.

lesson here, develop a gameplan, trade it, avoid doing something without a gameplan just to do something.

and now the TWTR 48 calls I was long are good for a double. I really really ****** up today. Gonna do everything I can to make sure this **** doesn't happen ever again.

 

[noskey]

I would want the stock to hold over 77.50 (support). 80-80.50 is resistance. You could buy the stock now with a stop loss just below support or you could buy the stock after it breaks above resistance. If it doesn't hold 77.50, JWN could test 75. What is your timeframe noskey ?

I've got an April 75/85 strangle. At this point I'm hoping they miss earnings.

And just like that

 

[johnnyredstorm]

im looking at Medical Marijuana Inc (mjna) long term, what do y'all think?

Idk I don't trade OTCs anymore too many headaches and unknowns. Gotta deal with illiquidity and halt risk. Main reason I learned how to trade options. Maybe use .1095 as a stop? Idk my value area study is worthless on OTCs. .12 could be resistance. Just have a plan and be smart with your sizing in this one.

most OTCs are true pieces of ****. so just be aware of that.

 

[supere14]

JCP Reports Thursday afterhours hopefully there are good numbers, got in at about 7.23 trying to book a healthy profit.

Thoughts?

 

[supere14]

Also are any of you guys looking into oil ETFs if JCP does well I might move into that domain.