Well Yeah I am confident to play 2k shares on Citi... but 2k shares.. on Alcoa or or BaC ... is not soo easy plus my heart would stop lol , 200 shares is good for now til i get confident enough... and consitent
As I told, it is all psychology. But if you think, if you trade 2000 shares, you lose $60 per trade = 3 ticks loss you win $60 per trade. It doe snot matter because liquidity is there for you to pick. I need to move my things to Live 100 shares and after I am sure it works and I think why not, I will trade as much as I am allowed since day one. I actually traded Alcoa today along with other liquidity monsters. everything works fine. I just sit there finger on entry to close position at the first sign of trouble. thankfully have not lost more than 3 ticks yet.
You know, may be you see it too. when I am 1 tick down I start looking for opportunity to close at 0, if 2 ticks at 2. and it just moves this way, same price but one moment you are 2 ticks down, another moment 3 ticks down. But price is still same. I wonder what it might mean.
I made calculations. It looks like I have to add another $0.8-1.00 as liquidity removal fees (which I knew), some ECN and some other fee. So, it is actually 2 ticks to overcome before I am net positive. Today had many lost and BE trades. so, after calculating fees out out of 46 gross ticks only 16 left. The irony is that I was 26 net ticks before 10:30 and I noticed I close most of good trades too early. sine Tuesday we are closed I am moving Live on Monday. Tomorrow will concentrate on letting trades run especially just in the beginning of the day when big move happens fast. I understand you open trades with Citigroup with limit orders and get added liquidity $. Any other fees over there? Anyway, very good progress. I am looking towards next week to see how things will go on Live account.
I just learned more from reading this 45 seconds of text than I did in the last 2 days of reading the forums. It's moments like this that makes it all worth it.
wonderful advice. i'v been trading full time for about 2 mos. now and i think that is the best strategy. it's best to get left out and wait for a good price you have confirmed it for me. thanx!!!
Just looking at how many pennies it goes up or down is meaningless unless you take the whole trde into consideration.....if one is trading 100,000 shares, and they make $0.02, that's $2000 right there......in that case, a mere "two or three" pennies is not chump change. As for the $0.04 to $0.25 thing.....yes, you're correct, if you make $0.25, then what is $0.04?...But that's only in retrosepct...what if it goes down $0.04, and then plunges $0.25? One must always factor in possibly being wrong.