Cutting losses is for losers

OPTIONAL777 · Jul 8, 2003

Thre was never a problem with the eyewitness accounts, the horror stories of the smelly beast, or the disappearances of fine meat and cheese.

The problem had always been the photos were so fuzzy, but now with digital rendering, the truth can be revealed....

greenleaf · Jul 8, 2003

Can you put his head on that famous loch ness monster picture too?

OPTIONAL777 · Jul 8, 2003

Quote from greenleaf:

Can you put his head on that famous loch ness monster picture too?
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I didn't know the Lochness Monster was a hairy beast.

mrmarket · Jul 8, 2003

Quote from TM_Direct:

That is my problem....w/out the number of shares we don;t know if yu are holding a 50.00 loss...or a 5000.00 loss....it makes a big difference....here's another question:

If you believe in the fundamentals so much, why not hedge it ?Buy at 51.09 ...59.00 target...why not sell a covered call at the same price? This way you get the premium to offset any downturn and if you are unloading it at 59.00 you still get you 15% profit...but best of all if it becomes a long termhold you can keep the premium and write another one.
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Let me ask you this...if my net worth was $100 million, would it matter if my position was a $50 loss or a $5,000 loss? Probably not.

It is all a function of risk tolerance. Having said all that, I don't think my finances are anyone's business but my own.

I think covered calls is a good idea, depending on the stock.

TM_Direct · Jul 8, 2003

Quote from mrmarket:

Let me ask you this...if my net worth was $100 million, would it matter if my position was a $50 loss or a $5,000 loss? Probably not.

It is all a function of risk tolerance. Having said all that, I don't think my finances are anyone's business but my own.

I think covered calls is a good idea, depending on the stock.
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Are you on drugs??? Of course it would matter@!!!
Ask Martha Stewart!! Her net worth is over a billion yet she quickly tried to cut her losses to avoid about 16K in lossses!!!!!

If that is truly your attitude then you are very small and will never be successful long term....All it takes is ONE blow up to wipe out 26 consecutive gains.....Imnot asking for you financial...all im asking is what your TYPICAL share purchase is...obviously it varies depending on each stock....

donaldduck3419 · Jul 8, 2003

haha, all of you are losers. i don't have any losses at all, ever!!! If i get into a position i just keep holding until it goes my way.

Yes, sometimes it takes a year or two for me to make 10 cents on that stock, but at least it wasn't a loss. And so what if i have my own mutual fund with those kinds of postions, at least i never take a loss.

pcn · Jul 8, 2003

wow-I'm from sf so I'm gay? Sounds like someone has some issues they need to address.

You are a fucking clown. Don't waste my time.

mrmarket · Jul 8, 2003

Quote from mrmarket:

The reason I offer the link above is to demonstrate the initial premise of this thread. My profitable positions in PTSI, ACMR, MDC, WRLD, COH were all losing positions at one point. By holding these stocks in companies which I believed to be fundamentally sound, I was able to ride out some market pressure and end up with a profitable position.

Of course, if I were just a robot trader who knew nothing about fundamental analysis, I would not have been able to perform the required due diligence.
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Ooops...I also left out my position with FRED, which was up significantly. Still another loser turned into a winner.

True, if you are an uninformed day trader who can't read a balance sheet, holding onto a losing trade may seem a bit risky.

But if you can see all the cards turned up like I can, you will have 26 consecutive profitable trades of 15% or better. I am HUGE HUGE HUGE!!!

IN2WIN · Jul 8, 2003

Quote from JT47319:

What's earnings? I don't know. What's P/E ratio? Dunno what that is either.

Don't know, don't care.

You are an investor. Not a trader, that is the fundamental difference and why this is really a waste of your time and ours. Do I really care about the condition of the US economy and where its headed when I trade the ES? No.

Traders make markets. That is the nature of a trader, not the amateuristic delusion of "daytrading" popularized on CNBC. Options floor traders, pit traders, market makers, and specialists. That is what we are in electronic form.

Does the specialist really care about the fundamental reality of his stock that he's in charge of? Nope. He's just there to play the spread, to dole out stock expensively or accumulate it on the cheap. Do this a few thousands of times a day and you can see why being a specialist is one of the cushiest jobs there is and why they're rich. Do you really think they invest in the stock? They TRADE it.

Traders make markets and provide the liquidity that "investors" and instititutions require in order to form an orderly and efficient market.

So you're a good investor. Good for you. But that has nothing to do with this forum.
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Touche!

IN2WIN · Jul 8, 2003

Quote from mrmarket:

Ooops...I also left out my position with FRED, which was up significantly. Still another loser turned into a winner.

True, if you are an uninformed day trader who can't read a balance sheet, holding onto a losing trade may seem a bit risky.

But if you can see all the cards turned up like I can, you will have 26 consecutive profitable trades of 15% or better. I am HUGE HUGE HUGE!!!
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I have 48 months of consecutive winnings in excess of 100% - so by your warped standards that must make me a G_d.

Get over yourself!

If you don't believe it send me PM and I'll arrange to show my trades real-time!