TO ALL*************************************************
I would like to make a proposal. In the last while we all have noticed some people being critical of other posters picks. Generally the criticism is based on either a lack of MOMO or the "poor choice" in the pick. I think we all can accept criticism when the stock is displaying no MOMO, but have trouble with being criticized for a poor choice.
This thread should acommodate all levels of daytraders. I know there are people that either lurk or participate that try to daytrade with $2000.00
The problems associated with daytrading with such a small sum are not the same problems that occur with people that are "working" a $500,000 portfolio. The analogy of right and wrong in the approach to daytrading has to consider that persons finances and the "required" risk levels associated with trading with such a small account.
I think that the people that are trading on this thread know who has a larger bank roll, and who has smaller bank rolls. I think we get wrapped up in "class" discussions, without realizing it. Someone recommends a $50.00 stock and the person with a $2000 portfolio makes a quick off the cuff statement about that persons "wealth". In the same token the person that recommends a .02c stock on the verge of bankruptcy gets bullets from the "wealthier daytraders for a poor selection.
So what is the solution? I believe we all can live harmoniously on this thread without dissecting each others picks as appropriate or not. My solution to a poor $50.00 or .02c pick would be just to post to the individual that made the pick "NO MOMO", or a "BRIEF" risk statement, and leave it at that.
If the pick has MOMO and is the riskiest pick on the planet, I believe it is up to the poster to draw that to everyones attention!
I think if you look back at all my posts, I have never criticized another person's pick. I look at his/her choice, then decide if I want to buy it, if I don't...I don't. If we worry about setting an example for the "supposedly hundreds of lurkers" that monitor this thread, then I think we set ourselves up to become the first "police state- thread" on SI.
Lets just lay back and make our own choices as to what we will or will not play. Newbies who "lurk" that may be "sucked in" CANNOT be considered. We didn't start this thread with the idea that some 18 year old, who hasn't paid for an SI membership, may or may not take what we say as gospel"! Ours is not to "guide the world".
I would much rather see us protect ourselves by making one-liner "NO MOMO" statements, or a quick cautionary note to outline a risk level. ie. "Company insolvent proceed with caution"
I don't think we should ever get into second guessing the choice, so that it deterriates to " I think I am right...therefore you are wrong"discussions!!
I am not directing this diatribe to any-one individual, I think this sort of thing is expected on a thread as the "membership swells". We all have to curb the problems as we progress.
"Viable solutions that result in achieving "the end", with no hard feelings are the preffered method"....this is my solution!
Lastly, this is a "daytrading thread". I don't care and neither do others that "you" think a stock is going to move in a week. When the stock looks like it is moving than a heads up is all that is needed. As soon as "you" start picking stocks for 2 weeks out.....you are on the WRONG thread!
For your consideration
the Chief |
