I hope that the ones who said I shouldn't brag realize I didn't mean this as a brag, rather was just trying to see where I stand in the pack. Interesting that there are many who wouldn't think anything of a 5k day. I have had much bigger days, both up and down. The best day of my trading life was actually March 19th, 2003. I had a long position (MXT) was holding 35,100 shares at the open. It had flatlined at 1.25/share. I think my average buy price was about 1.50 or so. MXT went up 1.01 that day. I sold off 10k shares during the day, but my acct. value went up in the 25k-35k range. Not bad for me, as my total acct. value at that time was only about 80k. Yes, I had way too many eggs in that basket I know! On the flip side, I had 10,000 shares of MLS last year. Held it overnight like a moron and it gapped down over 2 points on me, so yes, I have had it both ways. So, if I seem happy with making 5k trading on a day, I guess it's because I've had my share of down days too. Recently though I have strung together some very good days and feel like I am beginning to expect it now and seem a little de-sensitised to it all. I will show the results of 2007 later so you can see the swings I am talking about.
Here are the last 29 days: 4986 3416 -24 -3054 3176 -2734 -264 4336 1066 1126 2236 1756 906 1266 -1734 5296 -2434 -1634 2236 -3054 -264 -3584 -1434 -34 1296 -404 936 5506 1246 as you can see, some pretty sizeable down days scattered throughout too. The 5 bagger days are nice when you get em! peace.
Traderich Obviously you're well capitalized to take a risk like that. As I said before, 5k a day is possible, as I reach those figures myself and more. I will not diminish your success as it seem s that you found your edge on the market for some years now. I remember when I found mine, the feeling was overwhelming. Keep the good work my friend!!!! will you tell us about your risk/reward ratio?? How do you calculate risk?? Seems like you have a bad experience holding a stock overnight. is good to hear stories on both sides of the corner and how people overcome losses as well as keep consistency.
here is my days within the past 12 months biggest one day loss: 80k, (overholidayloss) second biggest one day loss: 50k, (day trading loss when i restart my day trading activity) third biggest one day loss:40k (overleveraged in position trade) i am still up by 250k for the past 12 months. i never remember a profit day. i don't know why. fear is the only thing left in my mind. all i care about is NOT TO LOSE!
<i>here is my days within the past 12 months biggest one day loss: 80k, (overholidayloss) second biggest one day loss: 50k, (day trading loss when i restart my day trading activity) third biggest one day loss:40k (overleveraged in position trade) i am still up by 250k for the past 12 months. i never remember a profit day. i don't know why. fear is the only thing left in my mind. <b>all i care about is NOT TO LOSE!</i></b> ** If all you "care about" is not to lose, why are you trading in such an extremely high-risk manner? With an equity peak of $420,000 profits, you lost -40.47% of that balance in three single sessions. In one single session of "day trading" attempts, you lost -11.9% of that profit balance. Perhaps you really meant to say, "all I <b>inwardly fear & dread</b> is not to lose. Your leverage is way too high, as noted before in other threads. Unless you adjust your market exposure greatly, you are poised for a disastrous event in the future. Please strongly consider backing off the high leverage size... you are playing with fire, the tinder is bone dry and there are sparks all around you.
Traderich, congratulations on the great day. I've had some big days as well in my trading history, and I admit they are euphoric. I do concur with those that say to not trumpet your achievements. My worst days have come shortly after my best days. Viewing your results above, I would suggest that you concentrate on reducing the number of losing days, or at least reducing the loss amount on a losing day. That would be a higher priority (in my opinion) than striving for bigger numbers on win days. I like James Cramer's view in his Confessions book - his goal was to make money every day. This goal develops resourcefulness in your trading, to be able to turn a losing day into a winning day (or at least B/E). This is a lot more gratifying that wild P/L swings, and helps you sleep better at night! Happy Trails.