Checking in on “Diamond Hands”

Checking in on “Diamond Hands”

Jan. 26, 2022

It’s been a year since the GameStop (GME) debacle.

How are those “diamond hands” doing right about now?

Last year, GME went to the moon in a supposed triumph for the little man. And hopefully some little people profited. But then a dark side showed itself. And this dark side bullied innocent people into having “diamond hands” (meaning: never let go of your stock position…if you’re a real man).

And then I heard one of those innocent people on a podcast say they got in at $325 (because the bullies said this sub-standard stock was going to $1,000). As of this writing, GME is now down around $100. Diamond hands advice would have this nice person down 70%.

Neat advice.

Which is why we always say: trading is better than buying-and-holding. Trading would keep innocent people away from never-ending losses like GME. And what’s a possible way to trade? The Old School portfolio we’re tracking this year.

Here’s the portfolio (which we discussed it in detail in the January 7th Newsletter) and the results:

Moving Average Crosses: +$300
Turtle Breakout 1H: +$959
Turtle Breakout 4H: +$495

A few quick notes. If the strategy was already in a hypothetical trade on 1/1/22, then I waited for the next setup to start my tracking. And this assumes 1 lot each time with no compounding using the GBPJPY only. The 1H breakout is also currently in a hypothetical winning Short trade.

Here’s our Simple Master Trend portfolio:

BB 1H Breakout: Currently in a hypothetical Short trade that’s up +$769
BB 4H Breakout:¬†Currently in a hypothetical Short trade that’s up +$498

And speaking of Master Trend, in Monday’s Newsletter we got a question asking if Master Trend works on other things.

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Disclaimer:
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.