cwah
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Post by cwah on Oct 14, 2021 16:18:36 GMT
Its too late now... almost all my put got assigned... Oddly, the one I was the most worried about, Tesla, is the only money maker..... My losses have been compounded way more than Tesla thought. .. . . .
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hazellend
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Post by hazellend on Oct 14, 2021 16:21:21 GMT
Tesla ended up surprisingly well. I suppose its good luck to be on up trends. However I didn't realise how much leveraged I was and sold few Baba and Zoom puts. Both of them had their share price halved, which multiplied the losses. I didn't realise that selling a 400 put for zoom was to put on the line $40,000 to lose. I obviously got assigned and my margin account is at its limit as I don't have the cash. So borrowing the money elsewhere to pay back the margin interest and trying to avoid the margin call. Big mistake on my side. I should have put only in tesla.... You can lead a horse to the water… Cwah, you were warned, you clearly don’t know what you are doing, please stop now. Invest for the long term, stop gambling!
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Mike
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Post by Mike on Oct 14, 2021 16:41:19 GMT
Good job coming back on this thread and owning up to how it went. Many wouldn't, for various reasons.
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cwah
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Post by cwah on Oct 14, 2021 16:51:01 GMT
Tesla ended up surprisingly well. I suppose its good luck to be on up trends. However I didn't realise how much leveraged I was and sold few Baba and Zoom puts. Both of them had their share price halved, which multiplied the losses. I didn't realise that selling a 400 put for zoom was to put on the line $40,000 to lose. I obviously got assigned and my margin account is at its limit as I don't have the cash. So borrowing the money elsewhere to pay back the margin interest and trying to avoid the margin call. Big mistake on my side. I should have put only in tesla.... You can lead a horse to the water… Cwah, you were warned, you clearly don’t know what you are doing, please stop now. Invest for the long term, stop gambling! My losses are so big I can't sell now. It would be selling at low. Zoom went down from 550 to 260 now... less than half. Same for Baba. I would really be selling at low if I do that
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Post by Ace on Oct 14, 2021 16:53:24 GMT
Good job coming back on this thread and owning up to how it went. Many wouldn't, for various reasons. Yep, you get full marks for your honesty cwah. It's a good job that a certain forum member who shared his name with the home of the New York stock exchange has gone missing
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adrianc
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Post by adrianc on Oct 14, 2021 16:56:55 GMT
My losses are so big I can't sell now. It would be selling at low. Or would it be cutting your potential losses?
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Greenwood2
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Post by Greenwood2 on Oct 14, 2021 17:08:13 GMT
Good job coming back on this thread and owning up to how it went. Many wouldn't, for various reasons. Yep, you get full marks for your honesty cwah . It's a good job that a certain forum member who shared his name with the home of the New York stock exchange has gone missing Yes ten out of ten for bravery by owning up to a bad decision that some on here had predicted. Maybe that is your problem a bit too brave on the investment front. But you are highlighting potential problems to some on here who might have tried these products, I must admit to having looked but found them fairly baffling so gave a miss.
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cwah
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Post by cwah on Oct 14, 2021 17:10:29 GMT
My losses are so big I can't sell now. It would be selling at low. Or would it be cutting your potential losses? Alibaba I don't think it would be. It's been bought by many big investors. It's a sort of long term bet. Zoom may be more losses, that's true, because they still have a PE ratio of 50 which is very high. But both are fundamentally very good and strong companies, and there is no reason not to hold them theoretically. For Alibaba I don't regret my choice, because it's clearly undervalued due to China's regulatory regime. But for Zoom you may have a point... I do follow Cathie Wood closely and she's been buying zoom at 300. So I got some hope it may go back up!
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cwah
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Post by cwah on Oct 14, 2021 17:11:28 GMT
Yep, you get full marks for your honesty cwah . It's a good job that a certain forum member who shared his name with the home of the New York stock exchange has gone missing Yes ten out of ten for bravery by owning up to a bad decision that some on here had predicted. Maybe that is your problem a bit too brave on the investment front. But you are highlighting potential problems to some on here who might have tried these products, I must admit to having looked but found them fairly baffling so gave a miss. Everybody warned about Tesla but it was the biggest winner. If only I only did Tesla I'd have way way more cash by now!
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registerme
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Post by registerme on Oct 14, 2021 17:14:41 GMT
Yes, I admire cwah 's honesty, but their seeming reluctance / inability to learn from the many blowups they've had over the last few years frustrates me (and to an extent saddens and angers me). The ability to learn from your mistakes is pretty damn crucial. cwah , if you totted up all the "investment" gains / losses you've had over the last five years what would the net position be?
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Post by Deleted on Oct 14, 2021 17:21:23 GMT
Everybody warned about Tesla but it was the biggest winner. If only I only did Tesla I'd have way way more cash by now! With respect, your problem is not share selection. Your problem is risk management. Not knowing the risk/loss profile of your positions means you *WILL* blow yourself up eventually. Even the best traders don't get 100% of their selections correct. All traders will make some mistakes. The trick to longevity is understanding risk so you can be sure that your mistakes won't destroy you.
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cwah
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Post by cwah on Oct 14, 2021 17:33:44 GMT
Yes, I admire cwah 's honesty, but their seeming reluctance / inability to learn from the many blowups they've had over the last few years frustrates me (and to an extent saddens and angers me). The ability to learn from your mistakes is pretty damn crucial. cwah , if you totted up all the "investment" gains / losses you've had over the last five years what would the net position be? If I include my P2P "investment" I'd still be at loss of course.... but this was due to scam where money in good asset just get scammed out. For stock it would still be positive if I didn't do option with Baba and Zoom...
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cwah
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Post by cwah on Oct 14, 2021 17:34:35 GMT
Everybody warned about Tesla but it was the biggest winner. If only I only did Tesla I'd have way way more cash by now! With respect, your problem is not share selection. Your problem is risk management. Not knowing the risk/loss profile of your positions means you *WILL* blow yourself up eventually. Even the best traders don't get 100% of their selections correct. All traders will make some mistakes. The trick to longevity is understanding risk so you can be sure that your mistakes won't destroy you. That's a good point. I m much more careful now. I'll only do option like the way I do it with Tesla and I'm happy to fully own it. Zoom was a mistake
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registerme
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Post by registerme on Oct 14, 2021 17:57:36 GMT
I think I'd advise using play money for two to five years, and spending the time learning everything you can about pricing options, risk management, and the maths that underlies it.
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cwah
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Post by cwah on Oct 14, 2021 19:04:10 GMT
I think I'd advise using play money for two to five years, and spending the time learning everything you can about pricing options, risk management, and the maths that underlies it. I plan to invest and hold long term. I'm not into trading. I accept losses as part of the game, but yeah I learnt the lesson now. And I can't go back and cancel all my trade anyway. I just let them be for now and save what I can for break even
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