Some of the few benefits of a market plummeting: 1. Mortgages are cheaper 2. If you have a mortgage and can refi maybe worth it? 3. Dumping money into your house will have positive expectation 4. Heading back to school makes sense (within reason...not paying 50k/year for BS) Property ownership is great. My main motivation for dumping money into a house was that even if the price of the home halves, the rent (read: mortgage) is still lower than median rent for my area and eventually I'll own this chunk of land as long as I pay uncle sam for the privilege. It's sort of a means of last resort under the assumption everything else goes straight to hell.
While people panicking, I'm up nicely trading CL, QM, and MNQ tonight. Done for the night. Can't wait for tomorrow for more actions. I'm relatively cautious and trade on smaller accounts. As I get better, I can put up good numbers. @dozu888 , he's a long term investors. Of course, in super long term 401K accounts, after decades of working and compounding, I'm sure he has nice numbers. But he's not actively trading like the rest of ET. So, it's apples to oranges comparison. I don't even look at my 401K. I don't count those. I just count the accounts I actively trade to extract profits every day.
800 possible within days/weeks, currently at 280 premkt 4:40am ... concern though hope it doesn't implode like XIV did .. epic gap check out DWT wow
put in order @182.25 last night...needless to say it had gapped way above that (dunno what the ask was at the pre-open)....still thinking of picking some up here @268
i'm not touching it yet, may enter if it gets back over 300 or bounces off 210-230 range later, it's gap filling now 5:15am
I am trading this market and even before the Corona Virus. If I do not see any trade I like, I do not do anything. Nobody is forcing you to trade. Most traders have the tendency to overtrade. I cut my number of trades and accuracy has gone up. Agree with Dozu888, lots of chicken littles on the ET boards. Most do not even trade the stockmarket. A lot of the ET trolls just spread disinformation, left and right daily. Why the hell would you even listen to an ET troll anyway?
Last night,I survived a LIMIT DOWN on $MNQ_F. And I was up even nicely $CL_F. This morning I made $ on $AMD despite halt. Then I got involved in $UWT. Made good $ in morning then later on got totally wiped out! Feel like sh*t for losing all that hardearned gains on one stupid trade! #riskmanagement But I've come back from worse drawdowns. Just feels shitty today. Cut losses! Cut losses!
at least you weren't the guy who kept buying uwt @1.84 for more than two hours, when the value of the fair value of the etf already went way lower... Free money with CL hedge.
We all do it, 10 good trades, get greedy, don't want it to stop, try too hard then blow all the gains in 1 trade and more Only money, only blow it on hookers anyway if you've got any sense