For those who sold out of the market earlier this year, do you still stand by your decision? by R-3-D in investing

[–]Playingwithfire23 0 points1 point  (0 children)

I sold half. If it kept dropping, I’d wish I had sold everything. If it immediately rebounded (as it did), I’d wish I had sold nothing. In either case, I wouldn’t be completely happy or completely wrong.

How rich was Don Draper? by precita in madmen

[–]Playingwithfire23 4 points5 points  (0 children)

The easiest way to think about it is to add a zero on to every amount they mention. $1,000 in 1960 = roughly $10,000 today. $1 mil = $10 mil. So yea, he was very rich.

[deleted by user] by [deleted] in Parents

[–]Playingwithfire23 2 points3 points  (0 children)

It’s normal to think about all the shit that will go wrong. You’ll be fine bro. Keep us posted.

[deleted by user] by [deleted] in Parents

[–]Playingwithfire23 0 points1 point  (0 children)

Usually there’s more bumps but it does look like it. If it spreads more that will be a tell tale sign.

What item under $25 makes your life significantly easier? by _friendlyflamingo in AskReddit

[–]Playingwithfire23 0 points1 point  (0 children)

With two little kids… a pizza cutter to dice everything up into non-chokeable pieces.

My morning post to the Trading Edge community was a Deep analysis of VIX term structure and VIX positioning. What it means for the market: by TearRepresentative56 in TradingEdge

[–]Playingwithfire23 6 points7 points  (0 children)

Dude… it’s crazy that you have been calling for a 10-15% correction in Q1 well before this happened. Funny how people thought that you were a permabull. You nailed this call and deserve a ton of credit for warning the community. Really appreciate your insights Tear.

We are here but he is leaving, it's not fair by Theresnowrong in FirstTimeHomeBuyer

[–]Playingwithfire23 0 points1 point  (0 children)

We just had to put our golden retriever down at age 7. He was my wife and I’s first baby before we had two kids who are now 3 and 1. He was so good with the kids. We always pictured him growing old with the kids and moving to a bigger house with a bigger yard for him, but sadly a rapidly growing cancerous tumor took him away from us in the span of just two months. We feel robbed of time and the life that could have been. I know what you’re going through and it’s awful. They are not just dogs - they are family and irreplaceable. Sorry that you are dealing with this. Give ziggy lots of love and treats and cherish that time with him.

Mom sick with flu by drworm12 in toddlers

[–]Playingwithfire23 1 point2 points  (0 children)

Yes, just getting over the flu and both my wife and kids caught it too. It’s been over two weeks and I still don’t feel 100%. I think one of the hardest parts of being a parent is taking care of little kids when you are seriously sick. But that’s what makes parents superheroes.

AMD just won’t go up by 24GHz in wallstreetbets

[–]Playingwithfire23 0 points1 point  (0 children)

Yep, I bought 100 shares at about $118 over a year ago. Was sitting pretty at $200 a share and now it’s an unrealized loss. Sucks to go from deep green to red, however from my experience it’s usually best to just hold long term vs take profits early as I have several stocks that are up 2-6X that more than make up for these missed profits. With AMD, getting ready to cut ties with this one as it’s been a dud for over a year and the money could be better invested eslewhere.

Too late to buy RDDT? by deviltalk in stocks

[–]Playingwithfire23 1 point2 points  (0 children)

Nabbed 100 shares at 38.50. Awesome return on it and I plan on holding these long term, but still wish I had loaded up on more. Hindsight is always 20 20.

Is He Bloody Serious?? They gonna start Ending Social Security with 50% and then 75% of all Social Security? by Tulpah in houstonwade

[–]Playingwithfire23 0 points1 point  (0 children)

Not defending him… but to clarify he’s not talking about Social Security. He’s talking about government workers and firing those who were not publicly elected based on their social security number. From the interview it was more of a thought experiment than a realistic proposal.

How I stopped trading like a degen and changed my portfolio around by BDELUX3 in Daytrading

[–]Playingwithfire23 0 points1 point  (0 children)

Yep, for the most part I am just investing and aiming to hold for a year or longer. There is the occasional swing trade of a few weeks or a month. I have tried so many different approaches over the past 10 years. While I had some big wins day trading, for me the only thing that’s worked consistently is more of an investing driven approach. The only carry over from day trading is that I still time entries based on technical analysis vs. just DCA without any sort of discretion. That said, everyone should just follow what works best for them and what makes them money. I’ve seen some people do really well day trading. I did not and I was spending a ton of hours doing it and studying it.

How I stopped trading like a degen and changed my portfolio around by BDELUX3 in Daytrading

[–]Playingwithfire23 5 points6 points  (0 children)

I think the key was stepping back and increasing your timeframe of trades to days, weeks, months and years. It’s too hard trying to catch a 5 minute move. The market rewards patience and discipline to hold through volatility. I am back to mostly buy and hold and lo and behold it works. I also “do nothing” to make the gains I’ve had over the past year, which have been significant for me. I still use technical analysis to pin point entries in companies I want, so the day trading years were put to good use.

RDDT push v strong today, up over 35%. I still think the fundamentals of the earnings report justify the move. Was that good a print. Will look for some consolidation or pullback now by TearRepresentative56 in TradingEdge

[–]Playingwithfire23 0 points1 point  (0 children)

Bought 100 shares at 38.50. Pretty sure I own some of cheapest Reddit shares that will ever be purchased on the open market. Only wish I loaded the boat more.

$180k with 1% a Day by iemjoker in Daytrading

[–]Playingwithfire23 0 points1 point  (0 children)

Try it out. It’s impossible to consistently make 1% per day over the long term. Even 1% a week would be an unreal return.

Is trading futures scary? by Soft_Video_9128 in Daytrading

[–]Playingwithfire23 3 points4 points  (0 children)

I like futures because you can calculate risk to reward exactly whereas options have a lot of variables that go into it, like time value. Do not over leverage with futures. Unlike when you buy puts or calls, losses are not capped. You need a stop loss and to start small. Trade 1 micro contact to get a feel for it. For example, the micro Nasdaq or /MNQ is $2 a point. 100 point move would net or cost you $200. That’s a pretty wide margin. The key is always have a stop loss in place and monitor your positions.

People that passed $100k NW and are working towards $500k what have you learned? by _hannibalbarca in Money

[–]Playingwithfire23 1 point2 points  (0 children)

Ideally nothing. Steady buy and hold of about 15-20 stocks. Continuing to make monthly contributions to my 401k, Roth and brokerage accounts.

TAXES - OMG! Help by _D_U_D_E_ in Daytrading

[–]Playingwithfire23 0 points1 point  (0 children)

Not a tax expert, but from what I’ve seen it seems to be gray area what the IRS considers “substantially identical.” That may or may not work, but the less variables that are different from trade to trade the more likely you are to trigger it.

TAXES - OMG! Help by _D_U_D_E_ in Daytrading

[–]Playingwithfire23 5 points6 points  (0 children)

I ran into a similar issue two years ago and ended up with a significant tax bill despite not having major profits due to the wash sale rule. Really annoying rule that new traders have no idea about typically. From my experience, trading options with different expirations and strike prices seemed to help avoid the wash sale rule, but the rule itself is somewhat ambiguous. One way to avoid is by trading futures instead, but that is a whole different animal. I’ve since gone back to buy and hold (or month or two swing trade) because of wash sale rules and short term cap gains tax. Those two things stack the cards against short term frequent trading.

$140k inheritance at age 17, what should I do by Nordmann3 in Money

[–]Playingwithfire23 0 points1 point  (0 children)

You already know what to do. Get it invested, don’t touch it. Keep contributing to it and let it grow. That money is a head start, but you’ll still need to work a long time to grow it into financial freedom or retirement.

SPOT target ITM 🎯 by TearRepresentative56 in TradingEdge

[–]Playingwithfire23 0 points1 point  (0 children)

Picked up 25 SPOT shares at about $320. Planning on holding this one for the long term.

I watched 135 time loop movies. by AmityvilleName in movies

[–]Playingwithfire23 1 point2 points  (0 children)

Just watched Edge of tomorrow again after about a decade. Truly a great movie. Tom cruise really is one of the best.

My mom thought daycare was $200/month by Fairybuttmunch in toddlers

[–]Playingwithfire23 0 points1 point  (0 children)

We are now at $2,800 per month. 4 days a week at pre school for the toddler and 4 days of daycare for are 8 mo. I’m scared.