I use small lot sizes cuz I'm a noob ($9.63 profit today!) *pic*

Discussion in 'Professional Trading' started by IronFist, Feb 28, 2007.

  1. wtf is a piker?
     
    #11     Feb 28, 2007
  2. Ebo

    Ebo

  3. You know, I was about to look it up at urbandictionary, but I didn't.

    Anyway, oooookay.
     
    #13     Feb 28, 2007
  4. Ebo

    Ebo

    There is nothing wrong trading such small size, perhaps let your winners ride more than a dime!

    There is wonderful volatility out there in today's markets waiting to make you dough.

    Nothing wrong with averaging in and out BTW.

    ebo
     
    #14     Feb 28, 2007
  5. I've heard mixed things about averaging in and out. However, my lot sizes are so small my $7 Scottrade commissions don't let me average in and out.

    If you average in and out, and part of the time the market is going against you, wouldn't that make the wash sale rule even worse?

    Example:

    Buy @ $20
    Buy @ $20.10
    Buy @ $20.12
    Sell @ $20.15
    (stock goes against you)
    Sell @ $20.05
    (stock reverses)
    Sell @ $20.14

    Assuming FIFO, you just had a gain and a loss. Wouldn't that invoke the wash sale rule from the 2nd to 3rd sale there?

    I'm not MTM so wash sale scares me. If I lose money I don't touch the stock for 30 days... which sucks, cuz there's only a few stocks I'm comfortable trading in the first place.
     
    #15     Feb 28, 2007
  6. Ebo

    Ebo

    You are way too preocupied with nonsense to ever become profitable!

    THE IRS never even sees your purchases!

    Try online poker.
     
    #16     Feb 28, 2007
  7. hahahah this is the most I've ever laughed at a post on ET. If you were being serious then I sincerely apologize. Great job on that profit! I can definitely understand your fear when it was oscillating by one cent.
     
    #17     Feb 28, 2007
  8. Thread failure.

    Except I learned what a piker is.
     
    #18     Feb 28, 2007
  9. quote from ironfist:
    can afford 'dose colorful charts dare cuz QuoteTracker is free
    ________________________________________________

    Good luck in your trading!
    I would like to request a favor: can you use the customary BECAUSE instead of CUZ....CUZ...CUZ...CUZ in your postings? .
    English is my second language but this degradation is nauseating!
    Best!
    mF
     
    #19     Feb 28, 2007
  10. If you reread that post, I was quoting Ebo. I even quoted him in my post. I do not corrupt the English language.
     
    #20     Mar 1, 2007