best piking strategies

Discussion in 'Trading' started by traderkay, Sep 26, 2002.

  1. I'm talking about something you'd think of doing if you don't have nearly enough capital for serious trading. Say you have $2-3K but need $10-15-20K to start with your strategy because thats what the strategy's drawdowns dictate. You're 100% ready to lose the 2-3K because you'll make it back in your wageslave job in a month or two. So that's the setup. I know some people play options, some bet on penny stocks, orange juice futures? Are there situations where you can bet X amount, if you lose you lose all, if you win you double it within a short period of time? post your piking ideas / experiences here.

    P.S. I do not suggest this is a viable trading method. It's just what it is - piking.
  2. smokey_mcPaat

    smokey_mcPaat Guest

    hey- you should get in touch with aphexcoil- a true piker!! :D :D
  3. Hendrix


    There are these sort of situations, but they never work when you need them to. Take the 2-3k to Vegas. Your chances of turning it into 10k-15k-20k are probably the same or better.
    Why not just wait the six months you need to save said amount (need $15k, "lose the 2-3K because you'll make it back in your wageslave job in a month or two") and instead work on a viable, long term trading strategy?
    Let's say it does work (you buy Nasdaq calls, catch a lucky rally and triple your money). What chance you will be tempted to do it again down the track ("well it worked the first time!") and lose the lot?
  4. If I had one trade and I had to get it right, this is the trade I would take.

    Wait for a nice counter trend in the NASDAQ. Like 5 or 10 days of general upward trending. When the market starts back down and makes a new two day low. Go short. Use a new day high as your stop. Keep going short until you run out of cash or the NASDAQ 100 reaches the 600s.

    If you double your money add another contract on a pullback.

    Or sell one NASDAQ emini, and buy one SP emini on a pull back, and hold the position until Xmas.

  5. There's 0 chance I would try it again if it worked. This is a one shot deal. BTW, what are the odds in Vegas?