RE:RE:RE:RE:RE:RE:RE:RE:Note to Retail Shortdragshot wrote: I did have issues with stops when I first started using them. I took some major hits back then but have since learned how to avoid the whipsaws and problematic premature stop outs. Now I only choose stocks that fit within my own buying or shorting criteria. I could search through thousands of stocks daily and maybe one might stick out as a possiblility. From there, my watch list grows and I wait. There is no hesitation on breakout and I'm all in. I can then decide whether to keep playing daily or move up to weekly, again depending on what my system dictates.
Everyone has there own way but clearly, some don't know what the heck they're doing. Read some of the posts from March and April of 2021. The usual pumpers on this board were touting a big comeback in what they believed would be a matter of weeks. From there, WEED would soar to $100 Even institutional money was still posting buy recommendations. But no, WEED profits continued to slip away and a simple stop order in those months could have saved people a lot of headaches.
There was so much emotion in those old posts. Shareholders would get their backs up when a few of us were trying to talk some common sense. The arrogance from them was to a point where it was becoming comical. That was a year and a half ago and sadly, things have not changed since.
It has been time wasted. How long will the waste continue? For some strange reason, no one on this board can answer that question? But again, they are determined that it will happen, just like they said before.
Yeah, I'll stick to my stop orders.
That`s well stated, but in the case of CGC would setting a stop loss really have helped stem the hemorraging.
Who would stick to it, accept their loss and not re-enter cheaper in the hopes of recouping their loss.
Example - Joe retailer buys 10k shares at $50 on the way down, his life savings all on one chip - sets his stop loss at $45
Smart - yes he thinks so,
Dismayed on a 10% hair cut - absolutely.
Thinking he is smarter than the market when he buys back a larger position at $40 - yes he thinks so,
Set`s another stop loss at $35 - no way it can go there, what a great opportunity to make back my original 10% loss and some profit on the imminent bounce back to support at $60.
Dismayed on another 10% loss when it sinks below $35 and he get`s stopped out.
Looking very attractive at $30 now - back in with a stop loss at $25
How many rode it all the way down using this mentality.
When your stock breaks and you get stopped out, it`s pretty hard to let go of the love affair when it get`s even cheaper and you have an opportunity at a larger position. - I suppose that is emotional trading.
Hoping for the big reversal that never happens.
So from 10 K shares to 30 K shares which are still pretty much worthless, so then let`s mortgage the house for the the big average down and then .....
A drum roll please - another cliff straight ahead.
Hard to say what happens around here next - market likes absolutes, the uncertainity here is keeping us low but it looks like the bottom is in and accumulation on the way back up is now the mantra.
$1.00 is the target and my bet is we get there - I continue to buy at these levels