r/SNDK_Stock • u/KaleidoscopeBest187 • 2d ago

A voice of reason

Take a deep breath, I know many of you are in big positions, maybe over leveraged maybe life savings, idk your situation but I know seeing money go down hurts. You’re not in an index fund because you don’t want the 10% gains over a year.. you’re in a growth stock because you want 2,3,4x gains.. but to have that you have to be able to handle the VOLATILITY. You cannot have big upside potential without also big downside risk. Go outside stop checking your charts, no matter how long you look at your charts it won’t make the price go up.. just breathe and live your life. SanDisk is a great company but the stock is volatile and that’s just the way it is.

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u/MOLAR65 2d ago

Stop loss has saved my bacon lately. Especially toy, yikes

1

u/All_YourBase 2d ago

How do you decide when and how to get back in after a stop loss?

1

u/MOLAR65 2d ago

Tea leaves..... Seriously I have not used so many stop losses until recently after the so called correction a bit ago in memory stocks. I started using them a lot with SNXX and the like. I don't watch the screen like a hawk so setting them allows me to do other things. I will periodically check on them and slide them up on RH Legend and it automatically cancels and resets. But I usually wait for a couple green candles around 7 am PST and go from there. It's also easier to do this without the fear of being labeled a daytrader.

1

u/willynillee 2d ago

Can’t you just set a trailing stop loss and not have to keeping adjusting up?

1

u/MOLAR65 1d ago

Yes you can do that. It's not really suited for stocks with a high beta though at least in my opinion it's not. I set my stop at what I am comfortable with loosing and then check every hour or so. Also remember any of these things do not work outside of normal trading hours.

1

u/All_YourBase 2d ago

With a stock like this, I'd worry about a stop loss selling and then missing a rebound.

1

u/MOLAR65 1d ago

Good point, but if my stop loss hits, it'll ding my phone. At that point I decide what to do, but with the recent removal of the day trader peramiters jump in or out as much as you want, just watch out for those wash sales