You only lost money because you closed the positions. You have to trade stocks like you buy real estate. You don't check house prices every day and sell if its down $1500 dollars lol. Even if you bought spy @ the highs in Jan2022 before it crashed, you would be up now, and had an entire year to average down. I would learn basic chart patterns (long term like C&H, triangles, and EW) I find the most useful. Forget about support and resistance bs, order blocks, double bottoms, tops, etc all of it is voodo science. Swing trade long term, daily or weekly chart, or play dividend growth etfs. Don't trade options unless you can afford to hold the underlying and it appears you can. Yes indexes for the most part because in reality, the only risk is bankruptcy, if you remove that aspect then you remove all risk. Time and money is the only edge that exists, don't let anybody tell you otherwise.
January is good, you must be up at least $200,000 for the month? Edited: It’s so easy right, just don’t sell losing positions. That’s new advice for me.
Do you sell your house if the market has dropped 50K, 100K? Why are stocks any different? There was a study where if you had bought the S&P at the worst time throughout history, prior the the great depression, prior to the crash in 87, 2009 etc you would be worth millions today. Time and money beats the market. How do you guys not know this? Everyone is so convinced they have to be a trader and find an edge lol...you are chasing rainbows. https://www.cnbc.com/2020/03/22/why-long-term-investors-should-never-sell-stocks-in-a-panic.html "Looking at data going back to 1930, Bank of America found that if an investor missed the S&P 500′s 10 best days in each decade, total returns would be just 91%, strikingly below the 14,962% return for investors who held steady throughout the ups and downs."
He was trading options, did Zghorn say they were they LEAPs or short term? Quality ETFs and stocks in a Bull, I agree with you, options not so much.
Why do I want to let someone on ET gain access to my account? What benefits do I get vs what the risks I incurred for exposing my expertise & net worth? Just so the whole world knows I am good? Successful traders normally keep it to themself (I found one by accident the other day) unless they want to sell something to the public? If my purpose on ET is to sell, solicit business, like coaching, mentoring, selling algos, seminars or funds, there is something call sponsorship, you can be a sponsor.
The comparisons are extreme but the general idea I agree. Even in trading, the law of expected return applies, you have to trade enough to get the expected value. You have my respect and I gain more insights of your skills from this post.
I don’t understand why the Reddit traders are letting mods see their accounts to receive Karma. It’s junior high locker rooms all over again.
It's called transparency. How much bullshit have you come across without people showing transparency into their performance? When people are bullshitting with their posts, people cry, "PROVE IT" When people are providing proof of performance, people say "show off!" Can't win with anything here...