Before you get into a position you need to make a prediction about where it's going to go and what you will do if it gets there. Make sure the prediction is time specific. Then think to yourself what could happen that would be derail this so you know when to just take the losses and walk away.

It takes practice and a lot of getting kicked in the balls to learn patience and to learn to stick to the plan. I've lost great trades by having paper hands

What I did is I limited my contributions to 3k until I was comfortable holding to my plan. After about 6 months of getting kicked in the balls I felt comfortable making regular contributions so I've started increasing my positions.

This post was edited by Thor123422 on Mar 12 2021 12:35pm

CCIV and SFT were both small positions in my portfolio and aren't my CORE. CCIV is basically a hedge against TSLA as it will likely be the first American competitor in the automotive segment. SFT I believe is undervalued but will likely remain undervalued until they show profitable which should be sometime this year. IE, I believe I will be able to buy back in prior to the run. Both positions were opened on Monday and I sold with 10%-15% gains to purchase the dip in my CORE.

It's the best way in the long term. I want to move more towards index funds over time but the problem is I like the idea of making plays and them working out, it's like gambling

Ideally I'd like to pick stocks and any time I take profit I park 50% of that into a safe smattering of index funds. So like, buy 100 shares, sell calls. 25% of the premium goes to buying back before expiration, 50% to index funds, 25% to liquidity.

Once I get over 25k I'll start putting more thought into how I'm allocating things. For now I've got a few companies I'm incredibly bullish on and that's my portfolio, but I've also only got about 7k added.

This post was edited by Thor123422 on Mar 12 2021 02:25pm

Monday

Yep, that and thinking about the platform to invest on, at least for me. I just feel less secure on a mobile app

Currently hating WeBull. I can only place a good-till-cancelled order on the app. Absolutely ridiculous.

As much as I hate to admit it, RH really is just the best trading platform that doesn't have per trade fees.

This post was edited by Thor123422 on Mar 12 2021 04:23pm

I use Robinhood for individual purchases, M1 Finance (my favorite for building portfolios and LT holding), and Fidelity (work 401k only).

I’m dumb founded how many of these other platforms haven’t replicated robinhoods UX/UI.

Half of the appeal is how clean things look and how user friendly the app is. Like my TD mobile app in comparison seems so clunky and confusing. The buttons are small, the charts are weird, the navigation is awkward.

Don’t these brokerage houses realize how important the feel of the product is? No lessons learned from the iPhone?

IBKR you have to pay like $500 a month or year I can't remember to get access to basic things like options trading. WeBull doesn't even have rolling options, and as far as I can tell you can't even do something like an iron condor unless it's pre-set by them. So I can't customize the wings on an iron condor. Also, I can't plate a GTC order on the website.

Like fuck guys. This is basic shit. You have the underlying access, it's not hard to put two kinds of orders together once the back end can support each order individually.

I actually appreciate having a less intuitive UI. Actives more rational parts of your brain figuring out your trades before you make them. It's so easy to panic sell on RH.

This post was edited by Thor123422 on Mar 12 2021 08:56pm