Seeking Alpha
  • Chines33
    Very happy to have trimmed back COST DVN GE SBUX all while up 2% as posted earlier. Feel good about it. Flat on day trades today.up overall
    5/10/12
    Reply (34)
    • Chines33: EMC my big laggard but I planned on it coming in which is why it is a smaller position. Now I am looking to add on further red here.
      5/10/12
    • westcoastinvests: Limping into trades doesn't make sense, sets you up maximize downside while minimizing upside, and doesn't encourage patience.
      5/10/12
    • Chines33: Lol thanks for the advice but I am doing quite well.
      5/10/12
    • Chines33: I have a strategy that has worked for me for years. Some like other ways, but mine works very well for me. I trade around core positions.
      5/10/12
    • westcoastinvests: so you love to tell everyone, do a little research see f you can find any good traders who limp in, they don't exist
      5/10/12
    • Chines33: And scalp where I think there's a trade to protect or maximize and limit loses on scalps when needed to protect overall gains in portfolio
      5/10/12
    • Chines33: I don't just say trade I invest around core positions for months at time. I put on full trades within pennies on day/overnight trades
      5/10/12
    • westcoastinvests: Why would you ever want to limp into a trade?
      5/10/12
    • TxRowdy: Westcoast - you seem to spend more time criticizing people than providing useful, tradeable info. Guess that's why nobody is following you.
      5/10/12
    • Chines33: I don't limp into a trade my core positions are investments that I want more of on weakness. When they pop decent I trim and reload.
      5/10/12
    • westcoastinvests: I don't need anyone to follow me, I am just trying to make people think, not here to stroke my ego
      5/10/12
    • westcoastinvests: So if you think more weakness is coming why not set a stop and rebuy a full position?
      5/10/12
    • Chines33: Because no one knows where a bottom is and after such declines I want in the stock and I want to build it out of it pops before great...
      5/10/12
    • westcoastinvests: If you buy you must think its a good entry point and that stock should rise, why then risk missing out on the move?
      5/10/12
    • Chines33: Plenty of great investors I know use quarter or half positions before adding a full.
      5/10/12
    • Chines33: Because being an investor is about managing risk first above all else. No one knows where a bottom is. A small gain better then full loss
      5/10/12
    • westcoastinvests: Dollar Dost Averaging is a scam created by financial services industry to get people to move when they are too afraidf to do anything.
      5/10/12
    • Chines33: Especially when I can add lower or even a touch higher once I get a sense of the overall market at that time.
      5/10/12
    • westcoastinvests: You do your thing, but I would caution others to really think about what they are actually gaining and giving up by limping into positions.
      5/10/12
    • westcoastinvests: Thats what you are missing a small loss is better then a small gain in the long run, you are too afraid of losing as is 99% of traders
      5/10/12
    • Chines33: Ya I'm sure in 08 and other massive down days the genius people buying full technical positions woke up as did just fine.
      5/10/12
    • westcoastinvests: It's not about how many times you win or lose but in the long run how much bigger your average gain is relative to your average loss.
      5/10/12
    • Chines33: Makes no sense to play hero when you can win and save yourself a lot of times a better price just by being smart.
      5/10/12
    • westcoastinvests: Don't confuse keeping trades in proper size with limping in. Trades should be the right size for portfolio but they should begin full size
      5/10/12
    • Chines33: On a purely intra day trade I agree with you. For investing I don't.
      5/10/12
    • westcoastinvests: One can limp out but shouldn't limp in for several reasons.
      5/10/12
    • westcoastinvests: Ok cool glad we agree on the day trade, I hope people realize that. As for investing, I'll agree to disagree with you.
      5/10/12
    • westcoastinvests: Keep posting your stuff, not looking to follow any trades but I enjoy looking at it.
      5/10/12
    • TxRowdy: People first need to determine if they are a trader, an investor or a combination of both. Different strategies apply.
      5/10/12
    • westcoastinvests: TX, I'd argue that at core all strategies should share same DNA, attempt to minimize downside potential while maximize upside potential.
      5/10/12
    • OneLongTrade: Doesn't matter what you do as long as you're making money doing it and aren't stressing out getting it done.
      5/10/12
    • TxRowdy: Agreed but while the end may be the same, the means are different. An all-in approach may be fine for your kind of trading - if you trade.
      5/10/12
    • westcoastinvests: Tx, I hate to disagree and be a jerk, but I've been trading for a long time one of the biggest breakthroughs I made was stopping limping in.
      5/10/12
    • westcoastinvests: Tx, not limping in actually greatly helps to control max loss, exposes u to max gain, and reinforces the patience to look for optimal entry.
      5/10/12