Seeking Alpha
  • nclsamy
    $SAM In a market that only went up, people often tend to forget that trading can be a losing business too
    Apr 13, 2:58 PM
    Reply (30)
    • nclsamy: Assuming the above story is real, please read it before starting a real money account. Trading does not always mean $PLUG, $TSLA etc.
      Apr 13, 3:02 PM
    • nclsamy: Thank you, OM, Det, PC, 1980XLS, One, Wheelz, DAG and DaLatin for not letting me blow up my account.
      Apr 13, 3:12 PM
    • det9: Wow!!! You see high fliers there.. I posted few months ago that I knew somebody who lost house shorting $LNKD.... I am lot better than what
      Apr 13, 3:42 PM
    • det9: I was when I started trading.. Don't remember exactly but I lost around 30-36K in few weeks.. During Europe turmoil.. 2011.. 2012$13 ended
      Apr 13, 3:43 PM
    • det9: In green.. There is no shame to take losses.. Like I say there is always money to be made or lose.. If market does not look good pull the
      Apr 13, 3:45 PM
    • det9: Plug and wait or hedge if u feel comfortable.. I lost 10% in two days ( which is not new for me) but I know my tolerance..
      Apr 13, 3:46 PM
    • det9: Nice reminder Samy.. Thanks..
      Apr 13, 3:47 PM
    • nclsamy: Margin and OTM options are the recipe for disaster for unexperienced traders. It seems that it's not easy for everyone to simply stop
      Apr 13, 4:00 PM
    • nclsamy: trading. The urge to try to make back the lost money can be overwhelming. A big mistake some people do is to think that after a losing
      Apr 13, 4:03 PM
    • nclsamy: streak, always comes a winning one. Sad story, but let's hope we can learn something. Cheers and have a good Sunday!
      Apr 13, 4:05 PM
    • joe kelly: Momentum and a good story can kill an account balance. $MCP destroyed me last year. Ask one's self if OM would buy this. If not, don't buy.
      Apr 13, 4:08 PM
    • Perkins Cove:'re learning boy. You ain't no "grasshopper" any more. Big thumbs up.....grin
      Apr 13, 4:13 PM
    • det9: Joe: it's important not to depend on OM.. His allocation to certain stock could be diff than yours... That is very imp to know.. He can
      Apr 13, 4:20 PM
    • det9: lose 30% on a stock but if that is only 1% of portfolio and yours is 5% can make a different..
      Apr 13, 4:22 PM
    • det9: Joe: I read ur post again and see what u mean..
      Apr 13, 4:23 PM
    • joe kelly: Saved ton of money staying away from jive turkeys I would have bought last year. I like Bind over TNXP cause it has way more cash Long $BIND
      Apr 13, 4:58 PM
    • Perkins Cove: Good point det. In the end one must learn to depend on oneself. We all could do better with #3...
      Apr 13, 4:59 PM
    • joe kelly: Of course quick sell trigger finger has helped me stay solvent. Long $BIND till I sell it
      Apr 13, 5:00 PM
    • det9: It took 25 stocks to recuperate my losses from 4 stocks last year.. Even though I made money not proud of it..
      Apr 13, 5:04 PM
    • nclsamy: PC, the theory looks easy, practice is hard. I started the year with the goal to let the good stock run, and trim the losers.
      Apr 13, 5:15 PM
    • nclsamy: I managed to accomplish the first part, but failed to cut the losses ($FEYE). I learned that is very important te keep the positions
      Apr 13, 5:17 PM
    • nclsamy: manageable. I won't get rich overnight, but at least l am going to sleep well at night and also remain solvent.
      Apr 13, 5:20 PM
    • joe kelly: I'm 51 and still trying to follow that lesson Nick. Fortunately most of my money is in stuf I don't mess with day to day I am my worst enemy
      Apr 13, 5:40 PM
    • det9: My target is to retire by 45.. We'll see how and when that happens
      Apr 13, 6:10 PM
    • joe kelly: Stuck till 60. Magic number for pensions to pay out decent. When I quit I want to quit.
      Apr 13, 7:00 PM
    • 1980XLS: It really is, all about the beer.
      Apr 13, 7:00 PM
    • joe kelly: This guy speaks for Republicans than beer dude
      Apr 13, 7:10 PM
    • det9: Beer---> good sleep---> good life.. Somewhere in between a little bit work :)
      Apr 13, 7:10 PM
    • 1980XLS: Agree McCain is clueless
      Apr 13, 7:11 PM
    • det9: If I ever meet Mc Cain I will give him a hug and buy him Cotton Candy..that man needs to take it easy..
      Apr 13, 8:06 PM