26 Jan 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%.
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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