$Palantir (PLTR.US)$ ive lost 7 in a row. im failing. she di...

Jmanjiven : Everyone loves the thought of trading. Don't beat yourself up. Actually, good traders are often nothing more than lucky. In my opinion, it's extra hard because you're trying to be rational in a completely irrational and rigged game. IMO, the best thing to do right now is invest, not trade, gold, BTC, some commodities, and maybe some companies you truly believe in. Other than that, you have to expect a ton of irrational behavior. That being said never stop chasing your passions.

10baggerbamm : let me give you some food for thought this is legit 100% true no BS.. I've been in the business over 35 years right now. I was licensed in the late '80s I owned a broker dealer in the '90s. I went through the coms and in 99 I watch everything crash I watched all my employees quit and that was the beginning of very difficult time frame for me setting my life story aside. there was this little company called Amazon they were going to sell books online and deliver them to your door via USPS using the mail service not their own trucks that didn't even exist back then and they were going to compete with borders and Barnes and Noble which were the 800 lb gorillas in the book industry. I had traded Netscape they got bought out I had traded Yahoo so many times cmgi which was an incubator they were out of Boston and many others I watched Amazon trade low 90s 9192 up to about 100 and it looked like it was going to break out and I bought a thousand shares at 98 that's $98,000 it went straight down I got stopped out at 91 that's a loss I watched it rally again all of the.com stocks look like they're ready to break out 99 and a quarter I bought a thousand shares straight down 92 stopped out took a loss 98 and 3/4 at rallied up to it looked like it was going to break out when I say break out it would have gone to 120 because that's what Yahoo had done that's what other companies that were commanding market share you know like the magnificent seven if you will back then did anyways I bought another thousand shares 90 and 1/2 took a loss so I lost just under $30,000 I don't know what it is 28-29 you can figure it out trying to trade it. I'm an idiot had I had listened to Jeff bezos and he said once we figure out the books and distribution and inventory we can sell anything we can sell everything.. trading is a drug.

10baggerbamm : part two of my first hand experience.. trading is a drug you get euphoria when you're right you get a high when you're right when you're wrong you get a kick in the gut a kick in the balls this pit feeling that you are useless you are a failure that you suck.. I'm sure I missed a few words but you get the idea and so that you understand the losses always hurt more than a gain you may lose five grand you may make 20.. that 5 grand loss hurt you more than the game because it screws with your ego it screws with your confidence your manhood virility it gives you doubt in your character your confidence. I own volunteer I have a small position I have a thousand shares I'm right in this area 8th quarter point higher wherever it is I'm holding it the CEO is brilliant the contract that they won against a major defense contractor for the government shows that they are forced to be reckoned with.. there is a huge short position on the stock it's very difficult to trade you see it goes up a dollar and the next thing you know it's only up 25 cents the shorts attack it they did it when it was 15 to 16 17 and then earnings came out and they got their butts kicked and now they've doubled down and guess what when earnings come out they're going to get their butts kicked again and the next quarter will push the stock probably into the low 30s and let them short it again and the next quarter it'll be 37-38 and the next quarter will be 45 to 50. if you can't sleep at night you have too much of a concentrated position in One security.

10baggerbamm : part 3.. if you can't sleep at night you have too much of a concentrated position in one stock meaning you have too much money in one position and I have been there done that bought the T-shirt I've had sleepless nights to the point where I'm ready to throw up because I've got a million dollars in one stock I'm leveraged on margin and I'm looking at every eighth of a point moving 2500 up or down.. the market is not rational you never Master it it's like golf it takes a minute to learn and a lifetime to master.. nobody knows nothing Kramer bear Stearns is fine okay every expert you watch him on TV these analysts they upgrade at the top where the hell were you 50 points earlier and you downgrade at the bottom they're downgrading Tesla today you suck where were you 100 points higher. you need to let the company execute if you believe in the CEO if you believe in the product the service if you believe the industry is going to be 100% greater a year from today to 100% greater 3 years from today and so on then buy a position read everything that you can read all of the news if it's just good news and the stock falls buy more because that's just the market fucking with you that's a cell program that's short sellers attacking it for a few bucks because it broke a short-term technical 5-minute inter day support line.

10baggerbamm : part 4 I believe in palantir I believe they are going to be an 800 lb gorilla in five or six years but you have to let the company grow you have to let the markets needs result in sales result in product development. so take a position where you're not going to panic every time it goes up and down 50 cents because I'm telling you you could be making the same mistake that I did with Amazon and then how shortsighted you will be by stopping out and missing the big picture of the greatest. of technological evolution far greater than the industrial revolution and the Crystal Palace far greater than interchangeable parts far greater than the moving assembly line far greater than the semiconductor being developed in the early seventies by Intel far greater than the personal computer in the early eighties far greater than the dot-coms of the 90s.. don't be shortsighted by great companies and upon confirmation of their execution buy more if it just so happens to sell off a few dollars because other people took profits by the rumor sell the fact it's on sale by it put it away if it goes up after the earnings come out wait a few days wait till it's stabilizes and buy more it's a horse race you made your bets the gates are closed the horses left if the horses winning turn one you'd want to go back and bent more if the horses rounding the second turn and winning by five links you'll want to bet more if it comes around the third turn and it's up by 10 lengths you'll want to bet more and if it's winning by 50 lengths on the home stretch you bet the farm but you can't do it in horse racing but you can do it in the stock market.

DariaLash 10baggerbamm: this is what I needed. thank you!