yeah, it depends on why you aren't getting paid. Are you a good whore ? How many tricks do you turn a day ?
yeah, it depends on why you aren't getting paid. Are you a good whore ? How many tricks do you turn a day ? Yes I am a decent whore I gross. but net about even I have less then two down day's a month but the fee's always get me. This is only when the market is falling. I can't short anything. My strategy for shorting is anything with an uptick. What I want to find is a firm that allows position trading. To me it's a lot easier. When I daytrade I take the same risk as I would position trading But make nickel and dimes profits, instead of riding a position. This week is a perfect example I have been short every day all day but the morning I get a few day trades that kill me and I hold my short positions they pay for my loses. If I were to hold my short positions until I felt they capitulated or turned strong I be up at least 5 points a piece.
okay, I hear ya. Some how you have to nail a big winner every once in a while to make up for the fees and all the small losses. I haven't been able to figure out how to do that without holding a winning position overnight.
The bad part. Using this week every day I loose 5 points or more on the open and at the end of everyday I net a little. If I could just hold everything instead of doing what I am told I would be ok but my boss would be unhappy. I guess if I held my firm wouldn't be doing so good and they wouldn't give any money to trade.
How can you lose 5 points every morning? Cover, get on the right side immediately and make 4 1/2 points.
I lose on trying to short stocks. I end up chasing them, I get filled at the bottom. This is only when the market goes down. When it goes up I have no problem trading. But I solved the problem today by quitting trading and growing up. I am now looking for a real job that is honest and respectable. Trading is for people who could afford not to work and when you are broke and hungry it's not the thing you should be doing.
Your broker/prop firm is to blame for this? Man, that would be funny if you weren't so serious. You might have quit trading, but I seriously doubt that you have grown up.
I signed with my prop firm for bullets and never got access to them. If I want to trade from the long side I could just trade retail. I have been lied to and am pissed. There is a lot of money to be made on the short side trading midcap stocks. Don't get me wrong this post sounds worst then it is. I don't lose very often but am fed up with all the B.S. that I have to go through.