funny on CNBC I heard Jim Crammer relate a story where he was at
an event recently and was talking to a young college person who
stated he was saving up to buy TSLA stock, Jim asked him why, and
he said 'because dummy, TSLA only goes up'
LOL IDK man, eventually that one sided thinking it will only and
always go up, there is no risk, eventually get some of these
younger investors/traders who have become accustom to this market
over the recent years. Steve calls them 'YOLO' traders
again I don't know when it will happen, 6 months from now, 2
years, who knows, but eventually stocks will go through a phase
that is very painful for them
A lot of YOLO traders on /wsb and RH. Not good. I
think one of the best things that can happen to traders early on is
to take a few lumps - teaches you that it's not easy, requires
skill, humility, objectivity, commitment and patience and, most
importantly, a plan. I'm afraid that if/when this market
turns down, people who just started trading in this bizarrro
up-only market are going to find themselves without a plan and with
a lot of lost profits.
yep, very well put my thoughts exactly. when you start out
trading, it's best to take your lumps early on while your accounts
are still small, the hard lessons force discipline and some sort of
trading plan
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here's a 60 min chart
TSLA short term
Posted by matt on 9th of Dec 2020 at 09:58 am
here's a 60 min chart of TSLA to go along with that, a possible wedge
funny on CNBC I heard Jim Crammer relate a story where he was at an event recently and was talking to a young college person who stated he was saving up to buy TSLA stock, Jim asked him why, and he said 'because dummy, TSLA only goes up'
LOL IDK man, eventually that one sided thinking it will only and always go up, there is no risk, eventually get some of these younger investors/traders who have become accustom to this market over the recent years. Steve calls them 'YOLO' traders
again I don't know when it will happen, 6 months from now, 2 years, who knows, but eventually stocks will go through a phase that is very painful for them
A lot of YOLO traders
Posted by rjdst on 9th of Dec 2020 at 10:07 am
A lot of YOLO traders on /wsb and RH. Not good. I think one of the best things that can happen to traders early on is to take a few lumps - teaches you that it's not easy, requires skill, humility, objectivity, commitment and patience and, most importantly, a plan. I'm afraid that if/when this market turns down, people who just started trading in this bizarrro up-only market are going to find themselves without a plan and with a lot of lost profits.
yep, very well put my
Posted by matt on 9th of Dec 2020 at 10:10 am
yep, very well put my thoughts exactly. when you start out trading, it's best to take your lumps early on while your accounts are still small, the hard lessons force discipline and some sort of trading plan