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Post by sd on Jan 4, 2020 21:00:20 GMT -5
A wide open subject field Ira! Ultimate market success in trading is attributed to a mindset that most participants do not enjoy /achieve .-
Note the writings of Douglas- "Trading in the Zone" , Tony Robbins, Personal Excellence Coach ; Alexander Elder- "Trading for a Living" - The List goes on ....
Ultimately the long term success or failure is not by the approach one may select, but by the human element of discretion in applying that approach-
Consider Richard Dennis- Turtles ---
Lots of fodder to select from - It would certainly be an add to the board to have some discussion on those human aspects that control our decision making in the investing/trading process! That's often not found elsewheres- Emotional decision making- - sounds interesting- How many of us make the decision to Buy or Sell Based solely on our emotions  ?
Your input would be most welcome!
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Post by sd on Jan 5, 2020 7:50:12 GMT -5
My Horse for this week will be TSLA- Stop $397.00 (actual position taken 1-2-20) .
TSLA is extremely overvalued as a car maker based on present sales- but the prospects of this innovating company and Elon Musk's vision make this a very speculative, but possibly rewarding pick - The stop-loss is based on the recent swing low's this week-The Friday gap higher may be the peak-, stop is just below my actual entry 1-2-
My Long term Default for 2020- I will have to select the Technology sector QQQ.
Tech is the group where leading innovation will take us- kicking and screaming at times-into the next decade- There are a number of individual company's one could select , but I prefer the lesser Risk of selecting from the broad ETF.
Note that while Tech outperformed SPY this year- a subsector-Semis- really outperformed! As we go into the 2020's AI and machine learning/robotics will cause major shifts in our economy and social structure- for better or worse. As Alvin Toffler said- the Future will likely bring shocks.
i.imgur.com/rIIaW60.png
I expect the markets will react to the fears of the middle east unrest following the assassination of Soleiamani. Will this become the catalyst to cause a severe market correction? Cyber attacks are expected from Iran, as well as military actions. President Trump is giving loud warnings to IRAN.......
Stops should also be considered to have attached stop-limits in the event of a market "Flash Crash" as we had several times in the past- JMHO
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ira85
New Member
Posts: 837
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Post by ira85 on Jan 5, 2020 13:16:44 GMT -5
Horse race. If we keep going, I'll take VIXY short again. This is an active choice taking into consideration world news. Looking at just the past 5 days, VIXY went up 3 times, but each time started moving back down within hours. Last week it didn't show any staying power. Dramatic news of a new terrorist attack or other big news event would cause a new spike up and if it's big enough it could cause VIXY to stay higher for a while. But if we get a reasonably quiet week on the Iran front I expect VIXY to decline. VIXY short, stop at 12.95. - ira
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Post by sd on Jan 5, 2020 17:45:50 GMT -5
IRA- Takes the win with VIXY Long- Entry $12.64, Close $12.92 net =2% Congrats IRA
Will VIXY Short be your default pick as well for 2020?
Spiderman slipped into neg territory on Friday $159.45- $158.42 - 0.6
Real Deal $8.53 - $8.38 - 1.75%
SD stopped out for a loss.
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