I know he frequently averages positions, so I'm not sure how he handles that on his "top/bottom trade" posts. I'll say this: I've been sim trading 50-100 contract positions on some of the big swingers like GMCR, ESRX, AMZN, and AAPL over the past month just to get a feel for strategies like averaging, max drawdowns, etc., and if you're patient enough to stick with a move you can easily net $5K-$20K DAILY with a fairly small account.
I just looked at C. It is now at $4.31/32 at around 1.48PM. If I had bought this stock, I would take my profits right at this price, or at most 3 cents higher if it ever gets higher in the first place. I sense sellers at around 4.33 to 4.36. Good trading!
@riskfreetrading: Did you check out my systems other pick today ? FAS was just up 12% today ! I'm sim trading my new account to get used to the interface before I start trading real money. I realized something today sim trading that I never grasped fully until now. I was cutting all my trades short at the first hint of weakness because deep down I didnt want to be wrong. This became clear when sim trading as I started seeing the same pattern of problems I was having with real money. I should really just look at each trade as if it was a hand dealt to me in blackjack and only consider the probability of success and nothing else (eg: not a reflection on me). I am able to do this when listing my system's signals while posting on this board, now I just need to rid myself of this while trading. I realized that I am picking bottoms because of pure greed and thrill from my ego knowing I caught the entire trend (which has no place in trading). I am now aware of this and will only try to trade AFTER the signal has formed, and try to dismiss any greed and egotistical feelings everyday. Wow, didnt think today would lead me to this realization, but I am happy for it
That was the top of C! Zanek: Good you are learning something new. BTW: did U trade today with real money? If you did not, you made work for nothing I made that analysis of C for you to give a sense of another person might be seeing. I only looked at C from your list of stocks. Cheers!
Traderzones is a troll, but sometimes does give good advice. Take a look at your equity curve: 10-09-09 05:03 PM Account value: $99,817 10-29-09 02:25 AM My current account balance: $99,051.91 Something is wrong here. after 3 weeks you have been steadily losing money. So time: 3 weeks wasted Money: Lost $1000 Based on this you will be down to $90k next year, or a $10k loss. I would suggest you trade live with a small account and not a big one, and hold to a plan instead of saying: if I feel I can do this, I will go up to $70k leverage again. $100k is alot of money. It should be like this: I will trade small for 3 months, if my strategy pans out I will scale up, otherwise stop (live) trading. You should not have room for doubt in your plans for the future by saying "if i feel like my strategy is working".
Hey guys, Be easy on Zanek. I know you want to tell him the truth, but I would precede it with nice words and also I would say the positives things in him first. It is not easy to lose money and keep up the good spirit. I think he has that as a big plus! Successful people know that if they gave up they would have never succeeded. Have a good weekend Zanek. I would do something different to clear up my mind, and then dive into trading study during the weekend . Good weekend everybody.
I agree guys, I have been trading my demo account in real time, and plan on doing it until I do 20 trades where I follow my system. Then I'll slowly move back into trading with real money at a small amount and ramp it up.
You seem to have made an important decision! While waiting did you know that you can make some high probability trading which may become a profit center in your trading business?