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A wise old grasshopper once told me, "You don't go broke taking double-digit profits."
Is it better to put in a stop loss order instead of selling? For example, I bought some risky stocks today. They went up a lot. Near market close, I put in a stop loss order about 10% below the current price. I figure the stock goes down overnight, I still take a profit. If it goes higher tomorrow, I will adjust my stop loss order higher.
Going back to my "moonshot" back to record highs in short order call back in the mid-March lows, I can't stress this enough in terms of my own personal strategy. DO NOT TRY TO TIME THE EXACT TOP OF THIS MOONSHOT MOVE. Take profits along the way in "blocks." Selling exact tops and buying exact bottoms is incredibly difficult to do. If you leave some money on the table to the upside then so be it. You do not want to be holding the bag 100% all-in on a major reversal move.
If things play out the way I think they will we will not see these summer record highs from the apex of the moonshot for a very long time (10+ years). I think we will see the biggest bust since The Great Depression starting later this year into 2021. I would not get greedy and be left holding the bag to the upside. You buy when everyone hates something and take your double-digit % profits along the way. I have detailed my selling "blocks" (realized and future/unrealized) to this moonshot move along the way.
Is it better to put in a stop loss order instead of selling? For example, I bought some risky stocks today. They went up a lot. Near market close, I put in a stop loss order about 10% below the current price. I figure the stock goes down overnight, I still take a profit. If it goes higher tomorrow, I will adjust my stop loss order higher.
I have never used them, but plenty of successful investors do use them. I always set my own price targets/price alerts and have pre-determined buy and sell points.
Is it better to put in a stop loss order instead of selling? For example, I bought some risky stocks today. They went up a lot. Near market close, I put in a stop loss order about 10% below the current price. I figure the stock goes down overnight, I still take a profit. If it goes higher tomorrow, I will adjust my stop loss order higher.
In a fast big drop it won’t help ...you will just get sold out at a lower price ...we had a flash crash in 2015 that saw popular etfs get mispriced in it ...investors were sold out at down 35% in DVY while the assets were down only 5%.. it happened in minutes .....
On the other hand a stop limit order may not execute at all for a penny difference and you don’t get sold out at all
In a fast big drop it won’t help ...you will just get sold out at a lower price ...we had a flash crash in 2015 that saw popular etfs get mispriced in it ...investors were sold out at down 35% in DVY while the assets were down only 5%.. it happened in minutes .....
On the other hand a stop limit order may not execute at all for a penny difference and you don’t get sold out at all
yea, that's what happened to my Hertz stocks. Put in a stop limit at $2 and it ended up selling at $.40. Now it's at $6. Sigh. But I don't expect other stocks to drop as fast the next month or so?
Just an update to my moonshot call and beyond since my original "moonshot" thread was locked due to a few trolls that insisted on derailing our once productive discussion. If you would like to see who they were take a look at the second-to-last post on the now locked moonshot thread. A lot of work went into that thread and I am very disappointed to see it taken down. That is exactly what the trolls wanted. They offered no productive discussion on the actual markets and it is sad to see that is how the trolls are rewarded on here.
So just to refresh on my calls. In 2019 in what was called the "greatest economy ever" I was calling for a stiff correction in early 2020 and a recession by the middle of 2020. Almost to the day of the March low I posted my original "moonshot" thread calling for new record highs in short order. That was back at DJI 19K. In the April oil lows around $10 I called for oil to reach the $30-$35 range within 3 months. Following the "moonshot" apex completion this summer we are going to see the biggest bust since The Great Depression. If you would like more details on my specific calls, and don't want to see trolls get threads locked down, please send me a private message so we can discuss more specific details of these calls.
I was wondering if you might be able to read my palm or some tea leaves as well. I actually started a thread to congratulate you on your amazing call. That was really bold and 100% correct. Great call and hopefully you made a ton of money.
So when and why do you think that the 70% crash will occur? As the Fed pumped money into the system to avert disaster, do you think that such measures when the next decline occurs will be ineffective? I am certainly interested in your opinion, given your track record.
Again- congrats on your market call. I am the first to admit that I was completely wrong.
I have read "all cash by the end of August" on one of your posts. So do you think this is a fall/early winter crash this year? A 70% crash from your predicted highs would take us down to about Dow 12K. Is that what you are thinking?
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