Ok, not sure about today. Yesterday I took 263 of MEA for LONG @ 10.70 and later it dropped towards close. My target is 11, somehow i doubt it will get there today, don't want to hold it over weekend, so i think i'll stick to the plan and get out even today if possible cause i messed up entry... again i got to do something about my sleeping schedule what am i gonna do with these stupid entries? darn, its second time i messed up since the start. successful trade rate so far 33% (only 3 trades so far counting todays). 66% if i can get rid of MEA today for some profit.
hey, congrats on starting a journal and starting to trade... here is a bit of feedback. -study fundamental conditions and play general themes -there is a difference between buying weakness and buying stocks making new lows. whats low often goes lower, and whats high often goes higher -you can buy odd lots of big stocks to keep your risk in line. set an amount you are willing to risk on any given trade (i.e. 2% of account equity) -don't confuse open position profits (money you have already made on the position while it is still open ) with your account equity -don't hold onto losses until they come back to breakeven...this causes most traders to lose....do the opposite of what causes most traders to lose, hold onto winners or add more to them -don't buy all at once, especially if you have trouble with entries (even if you are a piker and you are going to accumulate 25 shares, do this 5 shares at a time (assuming commisions don't screw you) -get a margin account with a discount broker so that commisions are minimized and you don't have to wait for settlement. -good luck!
i don't trade the stocks so this may not help you but this site tells you what stocks the insiders are buying and selling www.insider-monitor.com
Finally got out of MEA for just $0.01 less/share then i bought it. Had I waited yesterday like I should of I would of been fine but thats something I'll have to work on for next week. This week is over for me and I'm at $2903.01 I now know that my broker charges me on /share bases after 1000 shares thank god i found that out sooner than later ; so anything under aprox $3.00 is a big no no, or under a lot size of 1000. Later today im gonna ask for my account to be converted to margin so I can settle the same day like some pointed out. Here is a brief of what i've done so far.