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Anyone in to swinging :)

Honest reporting on shorter-term trading activity and ideas
MoseleyRed
Posts: 1
Joined: March 31st, 2018, 4:53 pm

Re: Anyone in to swinging :)

#386417

Postby MoseleyRed » February 13th, 2021, 2:40 pm

Hey Rams,

I am a similar age to you and I am looking into doing the same thing as you. The replies to your message seem to be predominantly negative to your plans. Personally I think it's a good idea but it needs to be managed carefully to minimise losses.

I recommend checking out the website and articles by Michael Taylor. He gives you advice on how to set up and which trading software to use. I am doing things slowly, identifying companies and then put together a plan for buying and selling then activating.

Good luck

dspp
Lemon Half
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Joined: November 4th, 2016, 10:53 am
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Re: Anyone in to swinging :)

#386431

Postby dspp » February 13th, 2021, 3:09 pm

MoseleyRed wrote:Hey Rams,

I am a similar age to you and I am looking into doing the same thing as you. The replies to your message seem to be predominantly negative to your plans. Personally I think it's a good idea but it needs to be managed carefully to minimise losses.

I recommend checking out the website and articles by Michael Taylor. He gives you advice on how to set up and which trading software to use. I am doing things slowly, identifying companies and then put together a plan for buying and selling then activating.

Good luck


You might want to read this thread
https://teslamotorsclub.com/tmc/threads ... la.191290/

Personally I tend to avoid short term trading as I am not very good at it, and I avoid options so as not to make things even worse. YMMV.

regards, dspp

Steveam
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Re: Anyone in to swinging :)

#386581

Postby Steveam » February 14th, 2021, 10:15 am

I started trading stock options, especially writing covered calls, in my 40s and made a lot of money using a fairly conservative strategy. I then got a little bit greedy and was badly caught out by the 2008/9 crash. I did some calculations back then and reckon I gave back 40% of the “profits” from the previous 5 years - ouch. By this time I was in my mid 50s and had taken early retirement. I realised my various pots were more than enough to see me out and I read an interesting article about how gamblers don’t stop when they’ve won the game: I decided to be an exception. I’d won the game and stopped playing (that particular game). Less stress, much less risk and I now pay very little attention to my investments having an income that way exceeds my income.

No advice to the OP - my circumstances were very different as I had both a very well paying job and substantial pots. The options venture was fun and made me money but I’m not sure that I wouldn’t be in very much the situation if I’d just invested passively and I’d certainly not have had the stress and risk.

Best wishes,

Steve


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