The Brehs of Wall Street (Offical Stock Market Thread)

eXodus

eXodus

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Russ said:
Massive green day
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I know this is probably a personal preference type question so only I can really answer it but I would like your perspective Russ.

I’m going to have long term investments that I set up soon but I also plan to have an account where I intend to mostly swing trade out of. I’ve been reading that it’s important to be emotionless and surgical with your shyt. Have a clear vision of when you want to get out of a position and don’t abandon that no matter what.

For example 4 out of my 5 positions I’m in, I had coming into the day.. so I can let them go without any day trading issue concerns.. all green, up $220 collectively.

Is determining when to get out based on a stocks patterns and Tryna guess the next point of resistance on its chart? What do you base exiting on when swing trading short and mid term?
 
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NkrumahWasRight Is Wrong

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eXodus said:
I know this is probably a personal preference type question so only I can really answer it but I would like your perspective Russ.

I’m going to have long term investments that I set up soon but I also plan to have an account where I intend to mostly swing trade out of. I’ve been reading that it’s important to be emotionless and surgical with your shyt. Have a clear vision of when you want to get out of a position and don’t abandon that no matter what.

For example 4 out of my 5 positions I’m in, I had coming into the day.. so I can let them go without any day trading issue concerns.. all green, up $220 collectively.

Is determining when to get out based on a stocks patterns and Tryna guess the next point of resistance on its chart? What do you base exiting on when swing trading short and mid term?
Click to expand...

I can answer more in depth later (I'm at work) but I have shifted towards swing trading moreso in my retirement account because its tax free upon withdrawal unless I withdraw early. I swung trade last year in a regular brokerage account but I'm going to be hit over the head with taxes on it. With that said, if you dont think your gains are going to push you into a different tax bracket then it's not really as much of an issue as some people may think. My gains last year pushed me into a different tax bracket.

Otherwise, yeah, you can look into resistance and support and all that. Volume etc. But honestly, I'd look moreso into different price targets from analysts online, compare it to what price you want to get in on it and happy leaving as well as potential catalysts. For example with Sava, I got in after news broke, but if I was aware of the company working on a big alzheimers drug, I would have considered buying and then flipping it after positive news on the phase 1 study hit. Then I'd track it day to day and maybe catch a dip on it for even more shares with the previous proceeds and hold until the next study etc. With sava though, the results of the study were so ridiculously good that I didnt see much of a dip coming at all and just held it. I did note before that a dip would come (and it did back to 55 or so) but I was too busy to track it all day and didnt want to lose out. If something somewhat similar happens and you are just speculating on a company you dont really believe in then just pocket the gains and move to something else.
 
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