Thread: userque's Account talk

Originally Posted by tsptalk

...but is it also used for other endeavors where you lose "the lot?"

It was slang started by Phil Laak (allegedly). So I feel safe with repurposing the slang term. But the Urban Dictionary does allow for my use in its fourth definition:

4
felted
1. Derived from poker slang, it means one is completely down on his luck. No money, no love-life, nothing. Bottom of the barrel. Nothing to live for.


2. To get injured badly or killed, usually in an unlucky accident.
I'm trying to pay my bills, but it's tough when you're felted.


Did you hear? Rom got felted by a school bus this morning.

Originally Posted by userque

Just a little something I've been wanting to mention for months now:

I always follow a system and sell at a loss if the system calls for it. We have to know that every trade won't be a winner. So why sweat a loss? Some become long-term investors...holding on to a losing trade. Others 'double down' at 'better' prices. Developing and FOLLOWING a system that one is comfortable with really helps.

If I ever get felted, it'll be because I traded poorly--until the bitter end; not because I became an investor to avoid selling at a loss, and ultimately, watched a stock fall until it was delisted, etc.

One can hold on to a losing trade for a year to finally and proudly exit at a profit. However, I believe it would have been more profitable to take the loss a year ago and trade for that whole year rather than leaving money tied up in a losing trade. This concepts escapes a lot of folks, strangely.

All of this, of course, assumes the use of a system that works. One shouldn't be trading unless their system has shown to be a working one--either through paper trading or proper backtesting.

Finally, regarding 'doubling' down:

Martingale Systems and Why They Dont Work In Stock Trading



If a system gives another buy signal after the initial trade lost ground, is it then ok to 'double' down?

Depends upon your money management scheme. One would be 'doubling' their exposure and risk...so...maybe.

...IMO

Good luck during these rough waters!


______________________
Disclaimer: I am far from an expert!

Nice read.
I guess I kind of follow that idea of not being against selling at a loss in that not every move is positive.
It comes from the old adage of "if conditions that prompted your trade have changed, its OK to change your trade".
It is true in a range-bound channel we've been in, or times of high volatility if your trade went wrong, you could give it a few days to 2-3 weeks to get positive again, and this revolves around or IFT limitations.

Did exactly this yesterday. Went in at a short term bottom a few days ago looking for a 1% pop. Well, would have gotten it except I went more than half into the I which dragged things down, but at the top of the channel we started reversing again and I sold yesterday, making for exactly 0% on my move. But I wanted to avoid todays fed notes volatility and saw no mechanism to take us out of the trade-bound channel, and still see more room to downside than upside .

Its nice to know there are others who share the "end the trade" not out of panic or fear, but just thru tactical and strategic reasons.

Originally Posted by FireWeatherMet

Nice read.
I guess I kind of follow that idea of not being against selling at a loss in that not every move is positive.
It comes from the old adage of "if conditions that prompted your trade have changed, its OK to change your trade".
It is true in a range-bound channel we've been in, or times of high volatility if your trade went wrong, you could give it a few days to 2-3 weeks to get positive again, and this revolves around or IFT limitations.

Did exactly this yesterday. Went in at a short term bottom a few days ago looking for a 1% pop. Well, would have gotten it except I went more than half into the I which dragged things down, but at the top of the channel we started reversing again and I sold yesterday, making for exactly 0% on my move. But I wanted to avoid todays fed notes volatility and saw no mechanism to take us out of the trade-bound channel, and still see more room to downside than upside .

Its nice to know there are others who share the "end the trade" not out of panic or fear, but just thru tactical and strategic reasons.

Exactly. And nice trade!

I originally had non-TSP trades in mind, but you're right--we have to allow more leeway with TSP trades.

U: Thanks for posting your thoughts [ little something I've been wanting to mention for months now:], & FWM "[QUOTE=FireWeatherMet;509536]Nice read." for sharing on top of that. Much valued learning here at TSP-Talk, & I enjoy reading both your posts regularly gentlemen. I'm not a poker player and slowly form my investment plans & methodologies - though want to say I agree with your thoughts and reasoning here. My example: I remained only in C-fund DCA'g from '92-2007, rode up & then down & up again... Saw long-term trends and red-flags and went all to L2020 in May'07, thus saving a lot of loss. I sold C "high" but would gladly would rather have sold as it started the crash no matter when I'd bought into it, to save even more potential losses. I just need to get better at knowing when to get "back in" and confidence to go bigger with that.
... Thanks again.

Thanks and...you're very welcome

[QUOTE=FAAM;509559]U: Thanks for posting your thoughts [ little something I've been wanting to mention for months now:], & FWM "

Originally Posted by FireWeatherMet

Nice read." for sharing on top of that. Much valued learning here at TSP-Talk, & I enjoy reading both your posts regularly gentlemen. I'm not a poker player and slowly form my investment plans & methodologies - though want to say I agree with your thoughts and reasoning here. My example: I remained only in C-fund DCA'g from '92-2007, rode up & then down & up again... Saw long-term trends and red-flags and went all to L2020 in May'07, thus saving a lot of loss. I sold C "high" but would gladly would rather have sold as it started the crash no matter when I'd bought into it, to save even more potential losses. I just need to get better at knowing when to get "back in" and confidence to go bigger with that.
... Thanks again.

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7 Key Events That Are Going To Happen By The End Of September

7 Key Events That Are Going To Happen By The End Of September | Zero Hedge

...

September 13th – This is Elul 29 on the Biblical calendar – the last day of the Shemitah year. Many are concerned about this date because we have seen giant stock market crashes on the last day of the previous two Shemitah cycles.


On September 17th, 2001 (which was Elul 29 on the Biblical calendar), we witnessed the greatest one day stock market crash in U.S. history up until that time. The Dow plummeted 684 points, and it was a record that held for exactly seven years until the end of the next Shemitah cycle.


On September 29th, 2008 (which was also Elul 29 on the Biblical calendar), the Dow fell by an astounding 777 points, which still today remains the greatest one day stock market crash of all time.


Now we are approaching the end of another Shemitah year. So will the stock market crash on September 13th, 2015? Well, no, because that day is a Sunday. So I guarantee that the stock market will not crash on that particular day. But as Jonathan Cahn has pointed out in his book on the Shemitah, sometimes stock market crashes happen just before the end of the Shemitah year and sometimes they happen within just a few weeks after the end of the Shemitah. So we are not just looking at one particular date.

...

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