Moderators- you are losing control of the board. This is not wsb. We are professionals with brains. Letā€™s make some money and not gamble daily. Be smart. If you have less than 2 years investing experience, your first humbling will teach you

likefunnysmart
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I'm all for the occasional YOLO call, but it has been getting a little out of hand. At the same time though, I can't blame people when the market seems to only go up in a straight line and there is no risk to buying in. People have made tons of money being somewhat irresponsible, and good for them. I just hope that they save some money in the event the market crashes and don't get wiped out.

I do miss having intelligent discussions in this bowl about the market and making strategic plays. The senseless buying in this market cheapens the time and effort that more experienced investors/traders put in, and it stings sometimes to see someone who happened to have OTM yolos on Tesla or GME make millions while I make a few hundred on a good, well though out play. But that is the reality of the market we are in, and while at times I want to fight it, I also want to make money.

I'm sure at some point things will get back to normal. But it may be another few years or another 1000 S&P handles. Just gotta go along for the ride.

likesmartfunny

If youā€™re young and playing with a few grand then swinging for the fences isnā€™t the worst thing. You have decades to replace those losses. Just donā€™t think OTM weeklies will be a long term winning strategy. Have some fun, but begin thinking about the long run, too.

Iā€™m 43 and manage a seven figure portfolio. I donā€™t want to lose money, Iā€™d like to consistently make money, and Iā€™d like to hit home runs periodically. Iā€™m about half way through my career so I have time, but donā€™t want to see massive drawdowns. That changes my strategy. Iā€™ve got a couple large SPAC positions, but I also have some dividend stocks.

One final thought: would you rather get a $1,000,000 tomorrow or a penny that doubles every day for 30 days?

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This is a once in a lifetime play, Iā€™m 22 and I was up 250k this morning, Iā€™m gonna play it smart down the road but what the point of not gambling while your young

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Enjoy your 5% average returns per year and retiring at 70

likefunnyuplifting

SM, I never do condors as an entry, I may end up with one on RUT occassionally, but that is rare. I never have a butterfly. I can't trade them as you have to get price and time correct.

My best years were 2007-2009.

You are right that volatility is great. But a directional market gives good returns. There are usually bull and bear tickers at all times. For example PTON and TLT have been great bear trades while all the Financials have been bullish lately.

I wasn't trading diagonals in 2001 so can't prove those were great times.

Sir this is a McDonalds

funnylikesmart

GHIV has been humbling

funnylike

UWMC equally humbling šŸ˜‚šŸ˜¢

Was literally about to post the same, it's getting so bad I stopped checking wsb months ago and maybe come here once a week.

All these meme traders are a few down days from getting blown out. I remember when I discovered options, I was up over 5x in 2 or 3 months. I was bragging about how great I was doing and I thought I was a genius. It didn't end well.

Problem is 90% of the people here probably don't really understand what a gamma squeeze is. Just remember someone is always left holding bag. For an example of how dangerous GME can be, I shorted Feb calls on Friday (as in I sold into the rally) I covered for 40% gains, some one paid 1500$ for a call and lost 40% within 15 minutes. Some people did get luck and saw 2$ contract turn into 1200$ but lets be realistic the majority of people chased the rally and never took profits, the open oi is part of what causes the gamma squeeze.

likesmart

Yea im not denying that people made money and sure some made a lot, but I'm sure people got burned by IV which was over 600%. Think about it people were still buying 60 strike for 1200$ but at close was only worth 350. Just saying this is getting annoying all these post about gme and stonks only go up.

Also re the squeeze, 2 weeks ago a large put position was closed at the 19 strike. On the following Monday gme gapped up over 19. On Tuesday a large call position was opened. I think the 19 closing unpinned price and then the call oi sparked the rally. My hunch is someone / market maker was trying to keep price down so they could return shares.

It has trended more WSB lately...some days I think itā€™s just random SPACs or whatever people are finding on some random Discord channel. Iā€™m all for good ideas to go check out, but just posting GMEšŸš€ with zero thesis or why. I mean, thereā€™s a lot of consultants in here - throw in a coherent thought.

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šŸ˜‚ you arenā€™t wrong. I said Iā€™d stop with the ā€œcanā€™t stop wont stop GameStopā€ post...just was pretty hyped up.

likeupliftingfunny

Lol OP. At the retail level it's all gambling. Join the ride you cry baby or forever be broke šŸ˜‚

likesmart

Lol TSM trying to talk tough. šŸ™„ You (MLTN) work at an accounting firm.

Nothing to see here

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I remember in 2015 no one cared, then came tiktok and Robinhood

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Been here since before bowl hit first 1000 people in like 2018. Super fun still haha but posts were super different. I like it still, but people seem to bash each other more now

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Unfortunately, the age we live in- lack of decency! Donā€™t sweat it! Accept it and punch back!

Do you want to be right or do you want to make money? There is a big difference between being right and being able to make money.

likesmart

I stopped checking this bowl as often for this reason. Also, I do the same plays every week because the market is always flat/up, since Dec-20, so my plays are pretty robotic now.

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I second everything STA said. That said, short squeezes and DTE gamma squeezes are also technically sound plays, especially in this market. I donā€™t bet the house on it, but I think the risk return in this market is very favorable. So I put small amounts into those positions and have several losses and also several 5x to 20x plays.

I think cautiously playing the market in front you is your best bet to make money in this crazy world. Manage your delta, keep cash, and take profits frequently.

Also, majority of the people on here were in grade school or preschool in 99. I donā€™t think theyā€™ll fully digest the reference. This market is different than ones of the past. Iā€™m sure thereā€™s a correction and/or a crash in the future. But no one knows when so just invest / trade cautiously.

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You know they still wonā€™t let you in their club for parroting their talking points.

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Itā€™s truly sad to see QE infinity turing the millennium gen into gamblers. Although Iā€™m only 45, Iā€™ve lived through 2 major market crashes and feel pity for all of you gambling your lives away. Iā€™ll take my retirement at 70 and 5% knowing that Iā€™ll be looking at Lago di Como and the Alps while you all still work at Walmart collecting shopping cards for minimum wage.

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@deloitte 2 how does this situation even compare to volmageddon?

Killjoy

funny

Bro you in tax

funny

I think itā€™s going $40k

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I spend more work time on actual work and PokĆ©mon card trading than options/stocks, but that will change because itā€™s earnings season! Finally.

Ah sit down.

These are the times where youā€™ll look back and say ā€œwoah, that was wildā€

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