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Wasting some time early AM today and remembered this thread. Bought the 3 shares of AMZN on 3/26/19 when it closed at $1784. It's trading at $3352 today.
Had I done nothing and just held it, that would have been a $4700 profit. As it was, looking further up this page, looks like I did make $50 a share on it, so not bad. But I just don't have it in my DNA to be a buy and hold guy. Can't do it.
Buy and hold is the only game I’m any good at...pick a short list of quality companies, know them inside and out, set very conservative buy prices, buy when they hit that price and then hold on and let them grow. I suck as a trader and I know it, so although I occasionally pull spec trades, buy and hold is 99% of my strategy. I would have done well to have bought AMZN when you did. Buy and hold can be a tough strategy because entry price is so important, but it’s also the only way to hit the home runs. It’s really hard to hit it out of the park if you’re only bunting.
Wasting some time early AM today and remembered this thread. Bought the 3 shares of AMZN on 3/26/19 when it closed at $1784. It's trading at $3352 today.
Had I done nothing and just held it, that would have been a $4700 profit. As it was, looking further up this page, looks like I did make $50 a share on it, so not bad. But I just don't have it in my DNA to be a buy and hold guy. Can't do it.
Ah. So that is your issue. Sounds like investor ADD.
What a shame you sold it. My puny 4 shares of Netflix that was negative when you started this thread, are up 37.5%. And my Apple shares? Up 409%.
I bought Amazon at 900 in my Traditional IRA. I decided to put it in my Roth instead, so I sold it at 1890, and bought it in my Roth at the same price. I have 75 shares.
Wasting some time early AM today and remembered this thread. Bought the 3 shares of AMZN on 3/26/19 when it closed at $1784. It's trading at $3352 today.
Had I done nothing and just held it, that would have been a $4700 profit. As it was, looking further up this page, looks like I did make $50 a share on it, so not bad. But I just don't have it in my DNA to be a buy and hold guy. Can't do it.
You should consider learning how to actually trade stocks the right way since it’s not in your DNA to buy and hold.
Buy and hold is the only game I’m any good at...pick a short list of quality companies, know them inside and out, set very conservative buy prices, buy when they hit that price and then hold on and let them grow. I suck as a trader and I know it, so although I occasionally pull spec trades, buy and hold is 99% of my strategy. I would have done well to have bought AMZN when you did. Buy and hold can be a tough strategy because entry price is so important, but it’s also the only way to hit the home runs. It’s really hard to hit it out of the park if you’re only bunting.
BeerGreek, I used to be like you but you can change I have. Man I was investing in Amazon, Netflix, yahoo, etc in the early 2000 and could never hold long term. I wish I was wisher and have mentors who would speak some investing wisdom into back then. However it’s never too late to change. I have changed for about a few years now and I am so glad that I did. Now I can hold a stock like Tesla since 2016, I did sell some along the way but also bought more. A younger me would have sold at 200% gain. All of it. Now I am older and much more humbled. I am not good for spotting Tesla, it’s a little luck. But if you spread your capital around a few growth companies and industries you will catch long term winners. Whatever I can’t find I invest with ARK and let them find some of them for me. I just know that I am never going to be so smart to know which are the best stocks and if I do fall on them when to offload. If you make a double on the stock then take 1/2 or 1/3 off the table and ride the rest. Anyway, I hope you can find more success on your investing. Humbleness has been a blessing in disguise for me. For me being humble has improved my returns by a lot. I returned 62% in 2020 and averaged 28% for past 3 years. I have totally changed how I invest. Stick with growth and stop worrying about when markets are getting too expensive and sell. I thought markets were expensive in 1999 too and multiple times since, all I got from that was frustration and underperforming. I am going to humbly admit that I sold out of my portfolio and 401k during the financial crisis. What pain and bad memory and quite shameful too but I gathered myself and reinvested again. Slowly from 2010 to now, continuously trying to change my ways. Like most I lost about half of net worth during the financial crisis but I sold out so didn’t recover with others. I had like $300-400k left after that disaster. But like I said, I forced myself to change, to be humbled and listen to others who are more successful even if their views don’t agree with mine. Obviously my views are not good. Ten years later, through earnings, savings and good investments returns I have close to $4m in taxable and 401k and in a position to be financially secured. I can stop working if I want. I am 47 so I do want to work a couple of more years. I hope I don’t come across as boasting because I don’t think my results are anything to boast about but just encouragement that it’s never too late to change, adjust your investment style if you have not been successful like me from age 22 to 37. I joined CD last October thinking I can offer my investing views with others here but I ended up humbled once again. Instead I have been learning from quite a few very astute investors and traders here. BeerGreek, I sincerely hope that you find success in your investing. I follow you here on CD, you are a good guy/gal, smart, knowledgeable but sometimes have views that tend to go against the grain, please don’t take offense. Some of the CD posters, not all, are very reasonable and smart, take some of their views on board. You know who they are too. Apologies if I am getting to personal here. Best of luck to you, BeerGreek. I hope you find an Amazon again and this time just stick with it.
But I just don't have it in my DNA to be a buy and hold guy. Can't do it.
By definition that means you're not really a long term investor (long term investors buy & hold for at least 1 year, and usually > 1 year)
In addition, based on your buy/sell reporting, you wouldn't be classified as a swing trader, and definitely not a technical trader as you don't use fundamentals.
By definition that means you're not really a long term investor (long term investors buy & hold for at least 1 year, and usually > 1 year)
In addition, based on your buy/sell reporting, you wouldn't be classified as a swing trader, and definitely not a technical trader as you don't use fundamentals.
Maybe you're not meant to be an investor.
Yeah that's the issue I see. If you aren't going to be a long-term investor, then you need to learn how to be an actual trader otherwise you are just blindly gambling.
If you aren't going to be a long-term investor, then you need to learn how to be an actual trader otherwise you are just blindly gambling.
Combine that with a stated desire for investing to be 'exciting and fun,' and eschewing index funds as 'boring,' and that leaves one rather untethered.
I just started playing around with small time stock trading last year, and I've had some Amazon come and go in my account, too. I'd buy stuff, but could only hold it until I needed the money (for instance, for my wedding) and then I'd sell to redeploy those funds elsewhere, and get back in when I could afford to. I don't really have a lot to invest, and I know that I don't have the risk tolerance to invest unless I feel I can afford to lose the money.
But I tell ya one thing, that after my first year (last year) doing this, is turning me more "buy and hold" than I was...
I'm doing my taxes. I always do my own, I would never in a million years pay someone else to do them. And obviously all that activity between stocks and crypto, selling collectibles and coins, holy mackerel are my taxes more complex this year. And all my gains are short term, so...that's not optimal either. Yeah, I think I'm gonna revise my strategy for 2021.
Anyways I hope I can pull off a big beach vacation in 22 or 23 where I help not just family but some close friends I've not been able to spend enough time with during the pandemic, travel to a beach house for a week, and it's gonna be costly, so I am, with fingers crossed that the market prospers me, chucking money in here and there with intent to hold now.
Wasting some time early AM today and remembered this thread. Bought the 3 shares of AMZN on 3/26/19 when it closed at $1784. It's trading at $3352 today.
Had I done nothing and just held it, that would have been a $4700 profit. As it was, looking further up this page, looks like I did make $50 a share on it, so not bad.
Dude, you have some weird denial thing going on here. Let me spell it out for you---You could have made $4700 , yet made only $50 and your takeaway is "not bad"!?!??!
Umm...thats horrendous investment management lol
Seriously, surrender to a money manager or somehow have a psychic shift and change strategy. Your approach isn't working
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