Is this okay?

CalTrade

Junior member
25 3
As mentioned in my intro, I have not been trading for very long (only a couple of years).

I don't mind telling folks that I don't have a lot of money in my trading account. Roughly $6000.00. This was done purposefully because I realize my weaknesses as a new trader, and I did not want to put a lot of money at risk.

Thankfully, I have made some good trades, but, also bad ones .Maybe not bad ones- but my bad handling of them. I will admit that for some time, I lost interest and simply did not pay attention to my holdings. Of course, that's not good; but the only good that came of it, as it removed the possibility of my selling off stock that ended up doing well.

So, I have 17 stocks. The worst one is down 88% from when I purchased it. Obviously, I had no sophistication, including no plan at cutting loses (I'm embarassed to say), I relied on hope that things would reverse, when stocks were trending down (again- not good). Then I simply tuned out- even worse (I know)

The best two stocks are up 106% and 98%.

I am getting a good sense for parameters around a trading strategy. For example I have told myself that I would sell when profits reached 20-25% increase and I would cut my losses, when losses were between 6-8% (stop loss ).

But because I am a late bloomer in developing a strategy, and because I have yet to apply it to my entire portfolio, would it be proper for me to post a summary of the stock I have, what I bought them for and where they stand now? I really want someone to have a look and say, your plan is reasonable. It's reasonable to sell off the 106% one and the 98% one, or, at the very least, pose questions that I may want to think about.

I know there are no magic answers, but I would really appreciate sharing of how to think about my portfolio. As mentioned, I have started doing that (especially after reading the intro pieces on this site), but I think it would benefit me to air this stuff out.

Is it okay to do that here?I don't want to break any rules.

Thank-you for your time and expertise.

Francis
 

MasterOfCoin

Experienced member
1,228 478
As mentioned in my intro, I have not been trading for very long (only a couple of years).

I don't mind telling folks that I don't have a lot of money in my trading account. Roughly $6000.00. This was done purposefully because I realize my weaknesses as a new trader, and I did not want to put a lot of money at risk.

Thankfully, I have made some good trades, but, also bad ones .Maybe not bad ones- but my bad handling of them. I will admit that for some time, I lost interest and simply did not pay attention to my holdings. Of course, that's not good; but the only good that came of it, as it removed the possibility of my selling off stock that ended up doing well.

So, I have 17 stocks. The worst one is down 88% from when I purchased it. Obviously, I had no sophistication, including no plan at cutting loses (I'm embarassed to say), I relied on hope that things would reverse, when stocks were trending down (again- not good). Then I simply tuned out- even worse (I know)

The best two stocks are up 106% and 98%.

I am getting a good sense for parameters around a trading strategy. For example I have told myself that I would sell when profits reached 20-25% increase and I would cut my losses, when losses were between 6-8% (stop loss ).

But because I am a late bloomer in developing a strategy, and because I have yet to apply it to my entire portfolio, would it be proper for me to post a summary of the stock I have, what I bought them for and where they stand now? I really want someone to have a look and say, your plan is reasonable. It's reasonable to sell off the 106% one and the 98% one, or, at the very least, pose questions that I may want to think about.

I know there are no magic answers, but I would really appreciate sharing of how to think about my portfolio. As mentioned, I have started doing that (especially after reading the intro pieces on this site), but I think it would benefit me to air this stuff out.

Is it okay to do that here?I don't want to break any rules.

Thank-you for your time and expertise.

Francis
Hi Francis.

I'd be happy to comment on your holdings and strategy ideas.

We do actually have a section for something similar to what you propose here.
- Where folks are encouraged to post an ongoing 'trading history/ journey'.

Of course, you should always be careful not to include sensitive personal details as part of that, but it's simple enough to redact things like account numbers etc that can creep into copy/pasting data or obscure/ edit screen-grabs. Better still, just type up a brief summary of just the basic info, as you say it's only a few stocks.

While we can't give you financial advice, we can certainly comment and feedback.

☺️
 

CalTrade

Junior member
25 3
Thank-you. For safety purposes, i'll just provide the basics:;

Stock Symbol. Purchase price/Share. #ofShares Current Price % Up or Down

LULU. 149.91 2 313.64 109.2 % UP
CPRT. 53.95 4 109.13 102.3% UP
CFF. 1.09 250 1.82 67% UP
MFC 21.50 8 20.46 4.8% DOWN
HUT 10.98 15 11.65 6.1% UP
CM 112.99 3 94.30 16.5% DOWN
MEG 6.44 75 6.99 8.5%UP
IDG 4.45 90 3.89 12.6% DOWN
OGD. 1.54 100 0.97 37% DOWN
TGOD 3.31 50 0.39 88.2% DOWN
GVA 34.56 4 36.28 5% UP
BTE 1.36 120 1.26 7.7%DOWN

So, any thoughts? I know I could sell the first three as they have had great returns, but although i know they have done well, i always wonder whether they may do better. Do i sell them all? Should I hold on to them? Should I sell some but not all?

I just noticed that the info did not line up as i saw it in the preview screen. But the numbers correspond to the headings. They are in the same order. Sorry- not sure why it did that.
 
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1nvest

Well-known member
304 108
Thank-you. For safety purposes, i'll just provide the basics:;

Stock Symbol. Purchase price/Share. #ofShares Current Price % Up or Down

LULU. 149.91 2 313.64 109.2 % UP
CPRT. 53.95 4 109.13 102.3% UP
CFF. 1.09 250 1.82 67% UP
MFC 21.50 8 20.46 4.8% DOWN
HUT 10.98 15 11.65 6.1% UP
CM 112.99 3 94.30 16.5% DOWN
MEG 6.44 75 6.99 8.5%UP
IDG 4.45 90 3.89 12.6% DOWN
OGD. 1.54 100 0.97 37% DOWN
TGOD 3.31 50 0.39 88.2% DOWN
GVA 34.56 4 36.28 5% UP
BTE 1.36 120 1.26 7.7%DOWN

So, any thoughts? I know I could sell the first three as they have had great returns, but although i know they have done well, i always wonder whether they may do better. Do i sell them all? Should I hold on to them? Should I sell some but not all?

I just noticed that the info did not line up as i saw it in the preview screen. But the numbers correspond to the headings. They are in the same order. Sorry- not sure why it did that.
Always a good idea to use a consistent method when exiting. I personally use two criteria on weekly and monthly timeframes
lulu is now entering a downtrend on a weekly timeframe. dump it.
CPRT, dump it if it closes below the last support 106
MFC, hold
CM hold
Meg hold
TGOD hold
GVA hold
BTE hold
some of these you've only recently entered, give em time. read a book by stan weinstein. one of the very best exit criteria and one of the best books i could recommend on entering/exiting individual stocks
 
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CalTrade

Junior member
25 3
Always a good idea to use a consistent method when exiting. I personally use two criteria on weekly and monthly timeframes
lulu is now entering a downtrend on a weekly timeframe. dump it.
CPRT, dump it if it closes below the last support 106
MFC, hold
CM hold
Meg hold
TGOD hold
GVA hold
BTE hold
some of these you've only recently entered, give em time. read a book by stan weinstein. one of the very best exit criteria and one of the best books i could recommend on entering/exiting individual stocks
Thank-you for your observations and advice. I just read LULU's financials and I notice that they declined repurchasing. So, I guess that's another indicator that it may be time to dump it.

I will also keep an eye on CoPart as suggested. Their financials and report seem very upbeat and they have some very good new initiatives they are highlighting. So, I'm a little uneasy on that one, given that it has been strong throughout and seems to have a few new things on the go. Thanks again for taking the time to have a look. I really appreciate it and rest assured, I'm learning.
 

CalTrade

Junior member
25 3
I had another look at LuLu and I agree that it is time to dump it.

I am not sure about Market vs. Limit. What I do understand is that a Limit allows you to set a price at which you are willing to sell. Only when that price is reached (if it is) does the trade occur.

Market on the other hand, guarantees your sale/buy will proceed, but at the market rate. This is where I get confused.

So, if I sell LuLu at market, will it matter what time of the day I put the order in? What would I look for to know when a good time it to execute the market order. Or, is it such that you put the order in in the morning and you get the best market rate for that day?

Thank-you
 

1nvest

Well-known member
304 108
I had another look at LuLu and I agree that it is time to dump it.

I am not sure about Market vs. Limit. What I do understand is that a Limit allows you to set a price at which you are willing to sell. Only when that price is reached (if it is) does the trade occur.

Market on the other hand, guarantees your sale/buy will proceed, but at the market rate. This is where I get confused.

So, if I sell LuLu at market, will it matter what time of the day I put the order in? What would I look for to know when a good time it to execute the market order. Or, is it such that you put the order in in the morning and you get the best market rate for that day?

Thank-you
I only ever use market orders. just me. i wait for the level to be reached and closed above/below, before reacting. setting a limit order means i could be taken out too quickly (for my own purposes).
 

CalTrade

Junior member
25 3
I only ever use market orders. just me. i wait for the level to be reached and closed above/below, before reacting. setting a limit order means i could be taken out too quickly (for my own purposes).
Thanks 1Invest. Is it better to sort of watch the market on the day I plan to sell and wait until the price looks like it will be close to its best for the day, or do you think it is better to hover around at 9:30am for an hour and do it then?
 

1nvest

Well-known member
304 108
Thanks 1Invest. Is it better to sort of watch the market on the day I plan to sell and wait until the price looks like it will be close to its best for the day, or do you think it is better to hover around at 9:30am for an hour and do it then?
The former is precisely what i do CalTrade. i know when its more or less time, i will have a line/level denoting when i want to take interest, then i start looking for confirmation on that day. My time frame is however much longer than most. I of course see what's going on during the day, mainly for entertainment value but nothing happens until the end of the week or even month depending on the account. then I've got my charts set up so that i know which ones i need to prioritise
I keep the number of charts i look at relatively small, i'm only interested in a few core indices, im only focused on the long term
do what you feel comfortable with however, not what someone else does.
read insatiably though. there is no one method. no one indicator. use bits and pieces and dont be afraid to take what feels right from one method, and use it for your purposes. it can take time, there is no rush. markets are gonna be there tomorrow, the next day.
 

MasterOfCoin

Experienced member
1,228 478
Stock Symbol. Purchase price/Share. #ofShares Current Price % Up or Down

LULU. 149.91 2 313.64 109.2 % UP [HOLD]

LULU has been doing very well during the pandemic with on-track revenue growth, good earnings and consistent margins.

It is likely to do well as social restrictions on outdoor activities ease and health conscious customers resume sports and exercise activities that were severely curtailed by lockdown regulations.

Certainly an investment you won't be regretting!

☺️
 

CalTrade

Junior member
25 3
I want to thank everyone for their time and expertise. Yes, Lulu is plaguing me because, although it is trending down, it has been pretty resilient and you're right- when things get back to normal, or on their way, that stiock will probably flourish. I may end up keeping both, for now- illustrating the notion that there is no one ideal answer. It's about context I guess. However, i do have a limit order in to sell CFF when and if it hits 2.00. I am selling part of my shares at that point. That stock is doing well now, but it has made me nervous in the past. i figure, I should get out while it has made me money. Plus, it would enable me to try something new.

I am so glad I found this place. I didn't think I would find a forum of people who trade and who are also friendly and helpful. Thanks again!. I'll be a regular here I think.

I'm Francis, by the way.
 
 
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