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Covered calls are pretty much risk-free. You cannot lose money, but can lose the opportunity to see the stock rise lots more after it gets called away from you. No big deal, though, as you can simply buy more at the market if it is one that has a future.
My extremely simple chart reading involved nothing more than watching price and volume trends in the short term. A rising volume line means that the stock price trend will continue as it is (either going up or down) and a falling price trend indicates a coming change in the price trend. So... when a stock price starts an uptrend and volume picks up, it is time to get on board. If the price is high and the volume heads down, get out now. It worked for me but YMMV.
My trades were usually done over a period of days and sometimes only a few hours so this might not work in all markets.
 

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Holy Cow! You should be teaching me lol. I used to be an investor, until I saw my PG shares moving $1 plus every day, yet only .10 or so up at the close. Literally lost $20k or so first few years, but not any more lol.
Unfortunately, as many realize, the best way to learn is to shed some blood.

BTW, I mentioned CWBHF above, buy on DIPS only, not on big moves up. Still much insider stock they dump on rallies. HIGHLY SPECULATIVE. It aint AT&T.
 

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Some quotes to consider:

- How to have $1 million in the stock market? -Start with $2 million and day trade.

- Charting is like astrology - you can find whatever pattern you want, but it is just superstition, not science.

- The best length of time to hold stocks is forever (Warren Buffet)

Do fundamental research, not charting, then buy and hold. That is the way to make money in the market. Day traders can't expect to compete against the professionals who do this for a living with high-speed trading algorithms and sophisticated models using dozens of variables and decades of data.
 

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Some quotes to consider:

- How to have $1 million in the stock market? -Start with $2 million and day trade.

- Charting is like astrology - you can find whatever pattern you want, but it is just superstition, not science.

- The best length of time to hold stocks is forever (Warren Buffet)

Do fundamental research, not charting, then buy and hold. That is the way to make money in the market. Day traders can't expect to compete against the professionals who do this for a living with high-speed trading algorithms and sophisticated models using dozens of variables and decades of data.

Great reply. Buy and hold after researching is investing. Most of the above in this thread is talking about trading, which is not the same as investing.
 

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Discussion Starter #26
I know a couple whose entire retirement was in GE. He worked there, sad sad. I told them to load up @5 in 2008.....still wouldn't have helped.
 

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There isn’t a chart or a program or anything that will protect you against a presidential tweet.
Depending on what gets tweeted, wildly up or wildly down.
IMHO, scary times to be day trading.
 
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To be clear, we are talking about trading, not buy and hold investing, to be precise . Lets not confuse paradigms. I did it as well, as I mentioned two long term buys, not trades. (neither of which are "blue chip" companies btw.) And sure as heck covered call writing is not long term investing.
 

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Days like the last few days are why I’m on the side. Probably another 350-400 point drop tomorrow (Tuesday)
 

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This thread jinxed it. Good thing I’m not near selling.
 

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It will be back at some point. I tend not to panic too much but having said that, I'm probably like most investors...don't like downturns so much. I guess I'm a member of the buy-and-hold club but I do re-balance from time to time. I also employ stops on most of my stocks. It works for me.
 

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I sold a bit of PayPal and UPS, took the profits and now looking for another stock or two. May just hold it for a bit and see where the market goes, eventually it all comes back after the down days, but I've been sitting on those two for a while. PayPal has been very good to me since it split from eBay.
 
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