Every new trader starts out this way, no one just walks in day 1 crushing it, however for most comers this is a hard pill to swallow. Either the market will shove it down your throat and take your lunch money, or we can tell you when you’re being an odd lot and you can keep that money. One is costly without a publicly bruised ego, the other is free however your ego is going to take a right hook or two, choice is yours. Let's take a walk in an Odd Lot’s shoes for a moment so you can see what we are referring to.
Let's see, how do we know that DL is Odd Lot right off the bat? He’s asking a group of strangers to borrow money, odd lot is a small investor who is broke, check number one. Red flag number 2, gambling on earnings, biggest thing we make sure our members avoid is earnings, however for the dumb money trader that's their favorite day/time of year. Let's take a look at MU real quick as he said it was cheap…….
No problem can be solved from the same level of consciousness that created it
Ok so he had one bad call just a quick 10% loss 24 hours after his call. Everyone is wrong here and there, and we are wrong from time to time as well, so let's give him another shot, everyone needs a second or 900th chance, right? He thinks BABA is a buy off $184. Now we love Jack Ma and the Chinese Amazon, however you do not buy stocks on the way down (which is what odd lot loves to do), smart money buys them on the way up. He thinks BABA is a buy, let's see what the market says.
Mr Market says WRONG!
So far his first call in Apple is down 10% since, his MU earnings gamble would have cost you 10% in less than 24 hours and his third call immediately cost you money as BABA waxed $184 that we said would happen. Are you starting to see why we tell you to start with $0? In the beginning people suck at virtually anything, why would it be different with investing. When you’re new what you think is going to go up will probably go down and vice versa. If you did the opposite of his advice and shorted all 3 stocks he wanted to buy where he wanted to buy, you would be up 10%+, 10%+, and 3%+ so far. That's why you need to focus on practicing in the batting cages, this is not the time to step up to home plate at Yankee stadium and point to the fences.
Do you have balls?
In the Group Chat share a time when you were the Odd Lot in the trade, and don't be embarrassed, odd lot exists in all of us and even professional traders still fuck up trades. The only difference is as one progresses as a trader, the losses should decrease and the winners should increase.