Momentum stocks journal

Discussion in 'Journals' started by Htrader, Jan 12, 2004.

  1. Htrader

    Htrader Guest

    sold 2000 epmn @ 2.6
     
    #21     Jan 15, 2004
  2. Htrader

    Htrader Guest

    The nas gap down probably took away any potential the epmn trade had.
     
    #22     Jan 15, 2004
  3. Htrader

    Htrader Guest

    Lets try this again.

    Bought 40k GOAM @ 0.65
     
    #23     Jan 16, 2004

  4. Thats a huge position.. the stock is super volatile.

    WHat is your account size?
     
    #24     Jan 16, 2004
  5. Htrader

    Htrader Guest

    right now its at about 18k...so its large relative to the account, but again this is just a trial account so I might as well swing some size and make it worth my time..right now the trade seems like a real bust.
     
    #25     Jan 16, 2004
  6. U are begging to blow up.

    Ever hear of risk mgt. ... position size??


    --MIKE
     
    #26     Jan 16, 2004
  7. KavMan

    KavMan

    You borrowed another 18K on margin just for 1 trade
    You got BIG balls :D
     
    #27     Jan 16, 2004
  8. Huh? Account is 18k and it seems you bought about 26k of GOAM.
    Did you margin this with IB? I wouldn't think you could buy a
    stock this low with margin...

    And why did you wait so long to buy in? Looks like you bought at
    the top of it's breakout?...

    If you were an Elliot Wave user you bought at the top of the 3rd
    wave. I don't use Elliot Wave so what the hell am I talking about?... :confused:
     
    #28     Jan 16, 2004
  9. Htrader

    Htrader Guest

    IB allows 2-1 margin with this stock, and since i'm not using this account for anything else, I'm maxing the margin.

    And yes the trade has essentially blown up. At this point, I'll need some major follow through to pull me back to even. although I should be able to exit at 0.6 in a couple days at the worst if we dont' see a huge nasdaq collapse.

    I don't use any elliot wave, I am purely trading on momentum...which means I buy when stocks are going higher.

    I'm still confident that once I work out the kinks in this strategy it should be a huge moneymaker.
     
    #29     Jan 16, 2004
  10. I don't believe a thing you've said on this entire thread....

    But if what you say is true, someone here better call Shady Meadows Insane Asylum & get them to turn off the computers before you lose everything.....
     
    #30     Jan 16, 2004