Selling these highs.
too high too fast. excellent profits. SOLD everything. see you tomorrow. 🥂👑 $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$
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Stocks, Options and Forex traders
Since 1999
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152398743 : Agreed, too high, too fast. I'm out for the day, and it looks like I just made it
Ultratech : what are you afraid of holding overnight or something
Solomon Kane Inc OP Ultratech : Absolutely! Tomorrow is a new day.
Ultratech Solomon Kane Inc OP : I don't get it.
Solomon Kane Inc OP Ultratech : It’s called day trading.
152398743 Ultratech : I don't think I'm letting any cats out of the bag by saying this. But stare at the 5 day chart on this app for just about any stock for a few minutes and see if you notice anything.
Ultratech 152398743 : I don't sell
152398743 Ultratech : Then how do you make any profit? Yes, it's a fact that in the long term most stocks trend upwards with an average of around 10% p/a, but that's only barely beating inflation.
Unless you're already uber-wealthy and can borrow against your stock holding, I can't see a way of turning stocks into money with the "hodl indefinitely" strategy
OptionStrengthViewer : v
152398743 Ultratech : I don't mean to labour the point, but your statement about not selling was thought provoking (Also, it's Friday evening in Australia, so I'm a bit merry).
I understand the notion of "wealth building" and "compounding returns", all that good stuff that you're told to do to get ahead in life.
But what I think puts you at risk of only geting rich "on paper" but never realizing any of your gains, given that you'd only sell if forced to by some external circumstances, or you panic sell at the bottom of a "crash" / correction once you can't bear to see your paper wealth disappearing before your eyes. Both of these are suboptimal to say the least.
Or are you looking further ahead to retirement, or to pass it on to your children (if applicable)?
This is by no means intended as a criticism, I'm just wondering what your "end game" is? It's more of a philosophical question than a technical one.
Back when crypto bros were a thing, there was this fascination, bordering on fetishising the emotional experience of watching an asset they never intended to sell change in relative value over time. It became more about proving the "haters" wrong, and the entire community's mood and persona fluctuated with the relative value of their token. To the point where people even wrote songs about "holding", and "dogecoin going to the moon".
In the end, this emotional attachment to an arbitrary financial instrument led to the scam formerly known as NFCs, where people somehow genuinely believed their ugly JPEGs would appreciate in value simply due to them being "unique", but taking around a year to acknowledge that this property alone doesn't make them useful or desirable.
Anyway, I hope you have a prosperous Friday and a relaxing summer weekend. (It's the middle of winter down here, so nothing but short, bleak, rainy, Londonesque days ahead)
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