Thanks for the very fast response. We have seen many ups and down over the decades going back into the last millennia for some of us in our 7th decade of trading. I have never seen such a rapid recovery including the dot com boom. Further to post Covid crash: I had $376,768 left at the March low point when I set some ridiculously ambitious goals. I wrote down my goal and what I was going to do to accomplish it. The goal was to increase my portfolio to $1,000,000 or an increase of 265.4%. Well I shattered that goal in Nov and reset my goal for a much more conservative goal of a 75% increase from then to the end of 2021. An increase of $750,000. To date I am at $1,466,735 or have met 62.2% of my 2021 goal. From the March lows I am up 389.2%.
The new techniques that I have learned from you guys over the last two years melded with the time tested knowledge that I have acquired over the decades to make a difference in trading plans and risk management. As well the tips that I pick up from the members of our “Master Mind” in the webinars have been beneficial. Two examples are GME that was mentioned. I got into this nutso “investment” with a $15,000 stock position this month and got stopped out in 3 days for a gain of $13,373 and got back in a week late with a saner $10,000 stock position and got stopped out in 6 days with a $20,094 gain.
I often mention in Thomas’ webinar that i ride some positions like a rented mule ( plagiarized from my son Joe ). Nancy and I think Carl brought NIO up a year ago and I picked it up. In the year to date that tip from my new Master Mind has earned me $101,277 over 116 PUT trades. Of course I had losses in rolling these puts but the gains are impressive with a bit of work. After a while the analysis for me is as easy as you reading ABCs and Elliot Wave.
To Jesse, I am enjoying and profiting from the swing trade approach and look at every position for this possibility as part of my analysis. When I hit your suggested goal I usually set a tight trailing stop of 10% to ride this rented mule a little harder with great results. ( I have had a life time of not following instructions as taught as Thomas can attest to. )
To Thomas, I always look for a naked PUT sale before looking at the other guys approaches as you well know. I’ll be with you tomorrow.
Thanks guys, it has been a hell of a good ride and I look forward to new ventures and reinforcement of previously taught lessons.