This is why in the past couple of weeks I wanted to demonstrate how I would trade using a certain amount of cash for short term gains. I used $AAPL as my stock of choice, and I traded the heck out of it, sometimes six times a day. I've been long Apple since $75, and $120, and I understand how to find a daily range in it very quickly. I also picked up new positions of TMI, EDS, AGM among others.
I made over 50 grand+ in the last two weeks in realized gains. This while my position on SYNM was down roughly 90k, and NEP was way up and near break even. I never worry about my long term investments unless there is a serious change in the fundamentals. I will average down SYNM as needed, but I won't do that until I see a major move. Whatever the case, I own SYNM at under $2.60, so it's really pointless to average down unless I see the $1.60 range.
I know we all don't have, what seems to be, unlimited cash. ...but that said, if I take my entire net worth I only have 20% tied up in the market, including the cash I keep ready to trade + average down. I suggest you all work on a similar formula no matter the size of your bankroll.
I also recommend you be *very* careful of investing in stocks you don't understand. Don't be afraid to take losses, and don't go all in - ever - in any one stock. I was very disappointed to hear one of our community members buried himself in a shitty stock that I told him a few times to dump (in fact Kunal00 and I both were pretty clear, suggesting that, if it were us holding that garbage, we would dump it and buy PUDA instead). I knew it was a garbage play, and he was only down 20% at one point. I believe there was a point when he was slightly up too & he still held on! Earlier this year he paid off his debts - and now he's left in the hole as this stock has shuttered into bankruptcy. He's probably looking for a job, and he'll likely quit trading as a result.
I can't tell you how many times I've seen people quit trading and come back another day. Every time they come back they lose more money after making a little. Why do they keep coming back? You have to ask yourself this question --- "How many times have I quit trading?" --- If the answer is more than twice then you have *not* learned your lesson. Patience only pays off if you're holding a winner.
So... in conclusion... Learn your fucking lesson... and don't ever give up.
Good luck trading team!