April Trading Journals

A "long" term bullet is called a conversion. This is what you want to ask for.

nitro

 

thanks nitro,

does anyone know about what conversions cost ?

 

That varies from prop shop to prop shop.

nitro

 

Bullets at ECHO are 2.5 a share WITH NO MINIMUM.

Conversions as Nitro (aka Vinny hehehe....sorry again Nitro)
mentioned cost .05 a shares initially but due to having to go through the floor be prepared to sometimes have to pay more in the spread (not always as my conversion I got for a .05 credit ) The problem with conversions is the HAIRCUT. They tie up capital for the firm and anything over 6 times your equity will cost you 2% per year.


WorldCO has different figures
Robert Tharp

 

Slow day as I could not blow the game open. 9100 shares each way on 8 of 12 shooting, +669 before commissions, +512 after, no bullets.

Pre-Market: Declined oil price.

9:30: Got 23 cents from the lone MER fill, still a solid start.

9:35: Tried GPT all day as I churned 3700 shares each way in that stock only to make just 24 dollars before commissions. I had some decent profit after I took it from the intraday double bottom but the failed breakout and churns made it impossible for me to hit a huge hit. Tried OI/NOR and churned too. Not a great day for breakout follow throughs at least not for me.

9:45: Went long WDR for 20 cents.

10:00: It would make sense that on oil price declines airlines would go up but I only had 300 shares CAL for 40 cents as I didn't trust the move. Caught 50 cents off SPF but on just 200 shares as I could not get filled.

11:50: Churned HP/ESV/P but got 40 cents from SGY on a weak energy bounce.

3:00: Churned more GPT :-(

Team Stats:

9 of 10 active traders
67500 shares each way on 29 of 61 shooting (48%)
+1155 before commissions (4 of 9 positive)
-470 after commissions (3 of 9 positive)

Top 3 Symbols: APA, MER, CAL
Bottom 3 Symbols: PHM, BK, MUR

 

Are you generally doing 500 share positions Hitman?

 

Everyone I speak today refers to Worldco as a midcap firm - are successful traders free to trade any stocks they want ?

 

Yes, you can trade anything you want.

And yes, my average position size nowadays is 500, with occassional 1000's when I think it is a sure bet.

And yes, I need to be more aggressive now that I am getting consistent results.

 

...unless the risk people tell you no.

 

Never in my career I was called by risk management lol.

But to reach higher tier I have to loose up a little.