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Fear only needs to spook a small number of people for a selloff. That volume runs out pretty quickly for minor issues. So the vast majority of people did absolutely nothing since May started. That tail end worked out well for me. I made money from the last dump once it dropped below about 25,600. I can buy 90% of the hedges back for less than I bought them for in the first place. I only started a fraction of the buy back today. I'm thinking I won't need them.Folks are still iffy about Trump's tariff polices, but are starting to say the heck with it and move on.
And if you think Trump and his game of tariffs drive you crazy now, wait 'till he slaps one on the state of California!
I generally agree with you regarding what most people should do, but I don't trade frequently or daily regarding market swings, if that's your impression. I wouldn't be able to control the tax burden otherwise. Not even with the hedges for which I'm most active. Though I do pay attention daily and might be on a buying/selling cycle over several days, I am looking for the 'good' or 'right' days to buy, sell, roll the hedge positions. Big swings have better visibility in the week and month view and that's in line with most option expirations. I'm not a 'day trader' or 'pattern' day trader as defined by the SEC or FINRA. That's just not how Grant rolls.S&P is only 2.3% below it's record high. Unless you're trading day in and day out, you just gotta wait these peaks and valleys out.
It hasn't hurt me yet to mostly ignore the headline news.And if you think Trump and his game of tariffs drive you crazy now, wait 'till he slaps one on the state of California!
Short term topping signals in today’s price action despite being an up/green day. I would be surprised if tomorrow or even this week closes up. Reduced some of my upside leverage early in the day.
Right. I think the biggest problem is that day traders typically operate on margin. No way to recover the small losses when you're wrong. Recipe for disaster, IMO.Day trading is a full tyme job. Most people I know that had at it failed miserably. I think you're odds at success at it are worse than the tables in Vegas.
S&P is only 2.3% below it's record high. Unless you're trading day in and day out, you just gotta wait these peaks and valleys out.
And if you think Trump and his game of tariffs drive you crazy now, wait 'till he slaps one on the state of California!
Wow, That was a close one! I was ready to call the Boys...And I don't even know which ones!!!!!!!!!!!!!!!Okay, I'm better now.