Keep doing what you're doing cause you're doing excellent from what I see so far. It seems like your account is growing and with time you can trade through a better broker and get better commissions, software & services. You did not mention how much equity you hold in your account and whether you get leverage or not.
I'm not in a position to teach or mentor that requires a skill set i do not possess as this juncture in life. I am profitable and have been for 39 months and counting, trading consistently profitable companies that generate positive cash flow through up and down cycles, using no more then 2:1 leverage. I average 112% every eight months. My near term goal is to average 400% every 8-12 months. I will do this by learning a new strategy to implement along with ongoing trading. I can PM to you a list of NYSE and AMEX stocks and the few NASDAQ stocks i trade. My way will not be your way but perhaps you can trade a few of the stocks to your benefit. Like i said it is just a thought based on my experience about stock selection. Selection is key for me. Regardless, the stocks you trade can make a good trader out of you. My last trades (the ones i can share) were in: ROK, MMM, MON .... Good Trading...
Cluseau - Thanks for the info, I appreciate it and will try to look more into those stocks. Things have been busy lately with no end in sight. Today I bought 15 GOOG @ 299.99 I use a 2:1 margin account and usually don't max it out. My cash trading capital right now is around 5,000. Not much but I have done ok so far. I plan on putting more in the accounts soon.
Five grand is tough to make a go of it but it is enough to start learning how--much, what, when to trade. What about trading cheaper stocks so you can get at least 50 shares pref. 100 ? Also, you may spread out management/company risk by trading index and/or sector instruments--> SPY , DIA , XLE , OIH etc.... I am happy to see you are taking a positive intellectual approach at the onset--i cannot say the same for me. Good trading.... (try to not use margin beyond 30% until you consistently extract profits--in fact, some would argue, do not use it at all until you set up your game plans and execute for an extended period)
Yes, I see where it is hard to make a go with such small capital. It has been tough and I have made some mistakes. I am maxed out right now and taking a rollercoaster ride to the bottom. I have stops in for TASR and GOOG if they hit it will take all of the profit I have made thus far. I am learning, what do you expect!!! My trade on GOOG wasn't well educated yesterday. I should have waited and bought down, I knew the cycle and that they would go to 292 before heading back up. I don't have the discipline yet but I am working on it. I think a big help would be not to buy until the afternoon session as prices seem to stabilize in the afternoon. I will get up to sell because a lot of times the prices are up in the morning. Sometimes violently. The problem I have had is buying in the morning at the height. You know buy high sell low!
Once again I was tired last night and didn't get up for the open and lost a little profit. Oh well! Today sold 200 TASR @ 9.94 +58 TASR went up to 10.20 before I got up. The market opens at 0530 here and I stayed up too late. I have found I must not only be disciplined in trading but in waking up to watch the market. Still holding 400 TASR and 15 GOOG!
if you cant even get out of bed for the market , then you are not very committed trader imo. Most traders that love the makert are up well in advance .
Ok, You are both right. I need to be more dedicated. I am true to the market but sometimes I need to spend a little time with the family. Family first!
Ok, still holding TASR and GOOG. GOOG is making a nice return with a little resistance at 300. TASR dropped through the bottom today with a low at 9.08. I bought 200 TASR at 9.22. The drop wasn't justified and I waited for confirmation as it rose. In after hours it was 9.20. This drop should work out by early next week and we should be back up then. TASR is fairly predictable. They drop big on bad or perceived to be bad news and work their way back up. It is a good product and a good company with a good idea not to back down to these bottom feeders that are bringing lawsuits against them.