Newbie with a question

Discussion in 'Stock Market Today' started by gtrudeau88, Jan 29, 2021.

  1. gtrudeau88

    gtrudeau88 Well-Known Member

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    If this is a dumb question forgive me.

    Stocks are falling today so if I find some solid companies that are largely going up (over the last 3 month say) but are down today, isn't this a time to buy? I was thinking of increasing my stake in KMI (kinder morgan) which is down 3% today.

    Looking at other stocks too.

    Guy
     
  2. StockJock-e

    StockJock-e Brew Master
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    Nobody here can tell you what you should be doing because only are responsible for your actions here, but you should have some understand of why you are buying, reasons for the stock to improve and exit strategies for both profits or loss, again, all dependant on your risk tolerance.

    Also learn to use a chart to get an idea of what the stock has done and the levels it has seen buying on recent dips.

    There is so much more than can be typed here, but you need to start somewhere!

    upload_2021-1-29_9-14-20.png
     
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  3. T0rm3nted

    T0rm3nted Moderator
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    If you like these companies and plan to hold, yes, buying the dips will be profitable if they continue on their upward trajectory.
     
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  4. gtrudeau88

    gtrudeau88 Well-Known Member

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    Where is a good place to generate charts like this?
     
  5. gtrudeau88

    gtrudeau88 Well-Known Member

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  6. TheGentleman

    TheGentleman New Member

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    Tradingview.com offers an amazing online browser based charting software that is very user friendly to new users. You can also set up a paper trading account there which is fake money and you can practice with. I would recommend doing this and seeing how you perform first! Make a journal of your trades as you go and write down what works and what doesn't!
     
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  7. Rustic1

    Rustic1 Well-Known Member

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    Train your mind to simulate paper trades as your actual cash and you will be more successful.
     
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  8. gtrudeau88

    gtrudeau88 Well-Known Member

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    This I do
     
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  9. gtrudeau88

    gtrudeau88 Well-Known Member

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    I always have reason for picking what I pick but I'm open to the idea that I haven't the best reasons. I bought KMI because of high dividend yield (7.42%) which has been stable and increasing, I assume oil/gas profits, etc will likely increase as covid diminishes and people travel for work and leisure again so I consider oil/gas to be a good sector to invest in. I bought the majority of my shares at $13.88 in Dec and I bought a few further shares at $15.43 in Jan following the beginning of the downturn the last 2 weeks of the month. I hadn't expected the shares to drop so far as they did during the GME nonsense.

    Per wsj, KMI is just above the analyst lows so I'm planning to increase my stake this week while the stock is low and has had a few days of showing recovery. That's my thinking in a nutshell.

    FYI that I also own ENB which has done well. I booked nice profits from MPC, GLP, and DCP earlier this month so I think the sector as a whole has merits. I did lose some though in VLO.

    I'm not looking for anyone to tell me what to do and nobody should think I am. I just want to better my approach and therefor want critique.
     
    #9 gtrudeau88, Feb 7, 2021
    Last edited: Feb 7, 2021

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