Stock Market? Degenerate Gamblers Need to Stay Busy (1 Viewer)

[GimmieUChips]

I have had an office in my house for over 30 years. Normally I am out in the field at least four days a week, sometimes six. With the shutdown and not being able to see many people in person I have had some time to buy some hot "Covid Stocks". I have been trying to remember to post something about this for months. Previous to the pandemic I had only bought Options for about 5-6 different stocks and I am usually a buy and hold guy. I flip half when they double.

I have bought and sold more stocks the last 6 months than I have in my entire trading career...about 22 years. I buy options with "Stops"

Have any of you gotten interested in trading Stocks, Options and Puts? Are you buying and holding stocks. Day trading? I know several famous POKER PLAYERS are Options Traders.

 

[Forty4]

https://www.pokerchipforum.com/threads/is-a-recession-coming-sell-stocks.45143/page-7#post-1040654

lengthy discussion

 

[legonick]

...and how are you doing?

NPR's Planet Money or The Indicator had a great piece on this. Companies like Robinhood are making a killing. You are not alone.

All that said, NPR brought up research that says stock pickers, even the professionals, don't beat the market on average. Indexes > managed funds. Personally I buy that philosophy, so I have not been going crazy with stock trading lately.

The podcast also mentioned that stock pickers generally sell their winners too early and keep their losers too long...so maybe some advice there for you!

 

[GimmieUChips]

...and how are you doing?

NPR's Planet Money or The Indicator had a great piece on this. Companies like Robinhood are making a killing. You are not alone.

All that said, NPR brought up research that says stock pickers, even the professionals, don't beat the market on average. Indexes > managed funds. Personally I buy that philosophy, so I have not been going crazy with stock trading lately.

The podcast also mentioned that stock pickers generally sell their winners too early and keep their losers too long...so maybe some advice there for you!

I am up because I bought the right tech stocks 8-9 and 10 years ago. And my 401K rebounded from divorce in 2007 and 2008 crash and 2012 crash. I have "won" some bets with options. I am actually up now. My grandfather told me the only way to lose in the market is get out...

 

[Poker Zombie]

All that said, NPR brought up research that says stock pickers, even the professionals, don't beat the market on average. Indexes > managed funds. Personally I buy that philosophy, so I have not been going crazy with stock trading lately.

Most stock pickers, even the professionals, don't beat the market on average. There are some, myself included, that routinely beat the averages. It takes work. You have to be open to what people are talking about. Then find out if the company is viable. Check their balance sheets. Read about the company, their goals, their plans. Is it viable? Don't limit yourself. Don't avoid any sector. There is money to be made everywhere.

Finally, when you find a stock you like, look for reasons to avoid it. Don't invest with dreamy eyes. You dont look at pocket aces and bet all the way to the river with 4 cards to a flush on the board with a tight opponent calling the whole way. Invest the same way. Find the possible reason you can lose and slow it down when it appears.

If this is too much, then invest in indexes. No shame there. Leaving money on the table isn't wrong if you are leaving with a profit.