My First Day Trade - Here are the Results

Discussion in 'Trading' started by caplan8293, Jan 27, 2004.

  1. Bought - TIVO (100 shares) at $11.04
    Sold - TIVO (100 shares) at $10.96
    Commission $.01 a share (through IB).
    Total Loss - $10
    Strategy - Customized Moving Average Crossover

    The reason I took a loss is because I was following my system and I was not quick enough to get a better price... I could have waited longer to maybe come out with a gain but everything I have read told me to follow my system and not get emotional, so I took the loss.

    My question is, how can I be faster when executing my trades? I am using TWS through Interactive Brokers and as soon as I click the button to buy and then click the button to trade, the price has already moved like $.05 so I need to keep adusting my limit price Buy the time I was ready to exit, the prices moved so quickly that I pretty much had to take whatever price I could get.

    I assume this gets easier with time?

    Also, I have read that "experienced" traders are able to buy on the bid and sell on the ask. How does one do that? Just put in a limit order and hope it gets filled?

    Thanks in advance.
  2. im new at this to..only been at it for few several months learning...

    but i can suggest..go get ninja trader or another one of the trading progies that run with IB...its sweet and ital help you with your entry/exits...trails etc..
  3. If you trade with an .08 stop you will get stopped out quite a bit as that amount is noise for most issues.