seems like everyone got suckered on OPBL yesterday(me of course included) when it looked bottomed around .50 yesterday, in hindsight guess it wasn't the best thing with the news that came out yesterday
1) no, i meant in regards to "i don't have to better than everyone else". i personally want to minimize my mistakes, trade better, etc. 3) the moves during the bull runs - and the average ranges - were significantly larger than now. therefore, the same size positions would have reduced performance today. if you increase size, you get more risk, since the exits aren't easily there. and the average range is 1/6 of what it used to be, whereas price is 1/3. so even if you increased size (2*), you'd still be significantly less in reward.
I've two stockfetcher filters, they're buy on dips strategy. On is based on 50 CCI and 14 CCI. the basic rule is 50 CCI is still above 0 (still uptrend)and 14 CCI is at 133-200 level (oversold). In backtesting from 03/30/2007 to 04/20/2007, this filter generates 82% winners and 18% losers, W/L ratio is 4.67:1 with a ROI of 552%. Tim's buy on dip 2 05/14/2007 03/30/2007 04/20/2007 82% 18% 4.67:1 4.80 552.84% Another filter is based on ADX, HMA, and OBV, this filter is created based on some of my daytrading parameters. In backtesting from 03/30/2007 to 04/20/2007, this filter generated 91% winners and 9% losers, it has a W/L ratio of 10:1, ROI is 345%. TIM - BUY ON DIP 3 05/14/2007 03/30/2007 04/20/2007 91% 9% 10.00:1 9.29 345.39% Unfortnately, many stocks both filters generated are three letter stocks - NYSE/AMEX, I didn't pay much attention to them. I think I will give a try to play the stocks generated by both filters.
Stocks generated on buy on dip 2 filter: Symbol Last %Chg Vol Analysis Chart CHK - CHESAPEAKE ENERGY CORP 34.52 0.64 10370900 historical 3m , 6m , 1y , 2y VRSN - VeriSign, Inc. 26.45 0.49 2569500 historical 3m , 6m , 1y , 2y KWK - Quicksilver Resourc... 41.33 1.45 1362900 historical 3m , 6m , 1y , 2y AATI - ADVANCED ANALOGIC 7.75 1.84 520100
Stocks generated by buy on dip 3 filter: Symbol Last %Chg Vol Analysis Chart RFMD - RF Micro Devices, Inc. 6.24 2.63 12427600 historical 3m , 6m , 1y , 2y GERN - Geron Corporation 8.39 14.31 8868600 historical 3m , 6m , 1y , 2y VAS - VIASYS HEALTHCARE INC 43.18 36.86 8574300 historical 3m , 6m , 1y , 2y NWS.A - News Corp Ltd pf 21.74 1.16 5448600 historical 3m , 6m , 1y , 2y NWS - NEWS CORPORATION LTD 23.53 0.99 3597500 historical 3m , 6m , 1y , 2y NFX - NEWFIELD EXPLORATIO... 46.09 4.70 3402200 historical 3m , 6m , 1y , 2y MOS - Mosaic Co 30.11 2.17 2894300 historical 3m , 6m , 1y , 2y DISCA - Discovery Holdings 22.80 1.60 2571100 historical 3m , 6m , 1y , 2y PWR - QUANTA SVCS INC 29.67 2.03 1975000 historical 3m , 6m , 1y , 2y DSPG - DSP Group, Inc. 20.30 14.04 1878500 historical 3m , 6m , 1y , 2y FTO - FRONTIER OIL CORP 35.85 1.13 1695000 historical 3m , 6m , 1y , 2y SWN - SOUTHWESTERN ENERGY CO 43.71 1.02 1685400 historical 3m , 6m , 1y , 2y TSAI - Transaction Systems... 33.06 6.30 1277400 historical 3m , 6m , 1y , 2y SYNL - Synalloy Corporation 42.38 6.46 1088700 historical 3m , 6m , 1y , 2y CRA - Celera Group 14.06 4.23 982100 historical 3m , 6m , 1y , 2y GPM - GENERAL MOTORS CV D... 22.91 2.19 886900 historical 3m , 6m , 1y , 2y ABB - ABB LTD 19.97 0.40 861600 historical 3m , 6m , 1y , 2y TTEK - Tetra Tech Inc 20.51 1.03 678000 historical 3m , 6m , 1y , 2y IFS - INFRASOURCE SERVICE... 36.09 2.06 649000 historical 3m , 6m , 1y , 2y FIG - Fortress Investment... 30.23 1.27 566900 historical 3m , 6m , 1y , 2y DK - DELEK US HOLDINGS INC 21.82 1.54 476900 historical 3m , 6m , 1y , 2y SEA - Star Maritime Acqui... 11.81 1.81 476700 historical 3m , 6m , 1y , 2y SFY - SWIFT ENERGY CO 40.90 1.54 406800 historical 3m , 6m , 1y , 2y ROC - ROCKWOOD HOLDINGS INC 31.96 0.88 283600 historical 3m , 6m , 1y , 2y TCM - Tongjitang Chinese ... 10.65 3.40 219600 historical 3m , 6m , 1y , 2y
I've been trading for a while, have made many good friends in the business. After these years, I'm pretty know which one makes you money and which one burns your money. There are only a few groups are financially powerful enough to move micocap stocks. They run microcap IPOs. TBUR was given by a friend at very early stage. That group only plays 1-2 stocks a year, all of them turned into at least 100% gainer in a few days. But I am cautious on all of these plays because I know when it it is over, they tank big, I don't put my whole account into them and gamble (well, wish I did on TUBR), I only put $2K into them, so my gain is limited, but my risk is small too.
Rofl, funny how some people just read the first post and jump in saying you can't do it. M*rons... You are a great trader dude, one of the best I've ever seen on ET and you seem to be a good guy as well. Keep up the good work
Did anyone read Pit Bull? I think i did (it's been so long ago) and I think it's about Marty Schwartz. How long did it take him (while his wife worked and he focused on trading) to run his 10K to 50K then 100K. ????? My recollection is that it wasn't long....it was maybe a year. I reserve the right to be correct on the historical facts. And that he traded futures. BUT......there is some evidence out there pointing to the fact that it can be done. Although, I have not done that. This guy might blow it out for sure, especially if he is a beginner. But, he is not afraid to state his outcome, pseudo publicly. He may benefit from redefining his goals...for example....lower his bills...change the focus to building a trading stake...pay bills some other way if he can.... But who am I to say he can't do it just because most people don't. If I did, that would be pure b.s.
I donât agree totally that PT is assuming unnecessary risk. I do agree with your style of having a couple of stocks to watch and trade. Not going to say this is boringâ¦.but more conservative. If I can snatch $60â¦I will take it. I Just have to do this 1mil timesâ¦.hehehe Like Mr Buffet saysâ¦.get rich slowly. â¦at least until I learn other ways and this is why I am here. Back then my picks were: RIMM, INSP, SEBL, VRSN, QCOM, DELL just to name 6. but also back then you can buy SEBL on a Mondayâ¦..and have your position up 50% by the end of the week if not doubled. I didnât need TA and never read up on any fundamentals. As I look back nowâ¦.it would have been more advantageous for me to read up on this because then I would have been prepared for the changes in the marketsâ¦.which resulted in my account reducing significantly. I followed the crowd. IPOâs were hot and it was extremely difficult not to make money. Splits were occurring more frequently and even soccer moms were daytrading. I mean no disrespect to anyoneâ¦..but it was easy in the late 90âs up until 9/11 so to hear someone made a nice chunk of change was no Black Swan...it was a common occurence IMO. But even after 9/11 one should have made some money back.....â¦..prices dropped like crazyâ¦â¦AMZN was $5 back then. But the party was soon over and I had to become more trading savy and find other ways to make a buck. So I appreciate your style as well as PennyTraders'. This trading is easy to learn, but difficult to master. markets are emotional and forever changing. for me I am learning the many styles of trading to better deal with the changes in the markets. I do not intend to loose like that again. I need a constant cash flow, because my intent is to leave my day job sooner than later.
Another very slow day, trying to find good plays, but really cannot find good setup and make decisive trades, something is bothering me. I feel I cannot trade stocks like AMGN, it takes so long to make a directional move, esp look at the level 2, very dizzy. When I got bored and covered for 0.10 loss, it started to drop 0.30, have to figure out on how to trade stocks like this, either play a few cents with size or wait for bigger moves with smaller size. I got in MODG at $2, I sold it for 0.01 gain after it went to 2.10 and dipped back, I just wanted to protect the capital since it went from $1.50 to $2.10. But then this sucker went to $2.2s and 2.60s after I sold, I didn't chase it. Traded CHK twice, that's a stock in my stockfetecher filter 2 scan result, I first bought and sold with a $100 profit, bought again at 34.60, didn't sell at 34.70, then stopped at $34.50 for a loss. So my CHK a wash, need to figure out how to trade NYSE stocks or stay away from. Bought some DNDN puts and sold for a small profit. I hold 2500 ESRG, the gains are not realized. As I said, I look for $2 target, I think it has a good possibility to be there by the end of the week, this one has just been noticed by others.