finally my layoff is settled down this afternoon. officially I am terminated or I am permanently laid off,get the severance package, I do not need lawsuit any more. my 401k fund is now available. Will do it very seriously from this moment on!
three tick gain on natural gas after the report. initially up 11 ticks (bought at 4.030, $12.5 per tick, remove my original target price 4.085 to 4.135), greedy hold too long, drop back and then sold it at 4.045 in the second rebound. the market always wins the market is rallying hard today, great labor data! I am reading IRA rules and tax issues about conversions from 401k to Roth IRA. did not pay much attention to the labor data. I will not trade this afternoon. I will try to setup my Roth IRA, that will be a super gun. I think at least it will take two to three weeks to finish that. IB does not have this service, I need finish it other place then move to IB.
in the opening, tossed ABIO or SMOD to buy, finally decided to short SMOD, it is a right short, but not too much. missed ABIO long, it really is a nice shoot, I have no day trade available to do that. SEC made it unfair since I have a tiny account (way below 25k). that is account size discrimination! missed the morning drop and the rebound of crude. shorted it in the resistance (morning opening level), did not hold too long, after the seemingly double top, at least 0.3 point should be extracted, no, just 0.16point. will try it next week to maximize gain per trade. the market wins again. today is Friday, I do not want to be whipsawed to give back my gain and even turn into red. the market is always there, so I give up the afternoon. have a good weekend
Hello, RabbitOne Sorry if you dislike that some people here actually know what REALLY happens to excited newbies with a $4,000 account and a plan to quit the work world. Perhaps we should be jumping up and down, and encouraging a newbie to pour his acount down the drain, roulette style. After all, how can a newbie NOT make a low-risk 1,000% gain their first year? Don't they say that 95% of all new traders do at least that well? What, oh, it is the opposite?
RabbitOne, doesn't the naive nature of this post bother you a little? Which do you think more likely, that this person wipes out, or becomes a fulltime active trader?
in september last year, I was told I was laid off temporarily. you know what ? my ex-employer thought (did not tell me) I was the most qualified in the job, so during the temporary layoff, I can easily find a job, then you know they do not need pay me severance pay ( it is a good number, I worked for them almost 10yrs). but they are wrong, their "temporary layoff" coverup "let go" strategy does not work, yes, my first 5k in the three months was just down to the tunnel, went broken. then I made a loan from my 401k plan, I bailed myself out from this hole, I found in the future market there is tons of money to make, who cares about the 8~5 job! but I know, if I quit my ex-employer, I got nothing and also lost u.c. payment, glad they did not find any project and finally can not suffer and eliminate me for good. I am still on u.c., so I am not in a hurry mode to make money, make a little and give myself some more courage to take this job: the job looks easy, but not easy; looks very very high pay, but training tutions are high. I just love trading. actually it is the same as Walmart to buy and sell, the better part is you do not need stores and employees. I am officially a full-time active trader from this moment on. just in orientation stage, maybe this year later I will be a very profitable trader. my initial goal is to beat my former job's daily earning, build up my tiny account (take advantage of u.c. ) to a moderate account, then phase into "make a living from trading" stage. thanks for your concerns.
Quote from trader198: then I made a loan from my 401k plan (ouch) I found in the future market there is tons of money to make, who cares about the 8~5 job! [/B] (ouch) I am officially a full-time active trader from this moment on. just in orientation stage, maybe this year later I will be a very profitable trader. (ouch) my initial goal is to beat my former job's daily earning, build up my tiny account (take advantage of u.c. ) to a moderate account, then phase into "make a living from trading" stage. (ouch) thanks for your concerns. It is a lot worse than I thought. You are 0 for 4 here. Let me give you some advice. When you are 4-7 years from now, wondering how you lost $50,000 + a few thousand hours time with nothing to show for it, and you owe $40,000 you struggle to repay, then you may grasp why less than 0.5% of the people "make it", but almost 100% of them thought they would. You aren't any different, really. The Trading 101 book you read just made you think so...
I do not know whether you are a profitable trader or not. but one thing I need tell you is: if you struggle 5 yrs, finally prove to yourself you are a loser, does not prove someone else will struggle five years, then prove himself he is not good at that. someone is born to be a trader. everyone is unique. if everyone will be a good profitable trader, then who will do farming, who will do construction work, who will do 8~5 work to support the basic necessities of the society? someone is not made to be a trader. but someone else will be! If I want to be a movie star, I know whatever I try, definitely I will fail, it is totally a waste of time or a joke.
bought QG at 3.915 in the pre-market, and sold it at 3.920. it is a very low risk trade, I need arrange my son to daycare, I cut profit. see ARNA gapped up, bought it in the opening, sold it with 10 dollars gain, not bad, if a comparabe size of QG/CL, it will be a very good trade. bought QM at 80.80, sold it at 80.25; realized my mistake, bought it 81, sold it at 81.125. funny why not hold with a stop? everything will be great! shorted cl at 82.19, then chick to hold for $0.3 gain, got out with 0.05 gain will do it better. will use hard stop to manage holding and profit taking.