5 of 6 winners...covered GE about 50 cents too soon, LOL. Used old manual close program, still had bby in it, the only loser, would have been a winner if I had the auto program running. Anyway, not bad +$450. Have a good weekend...I'm heading to Foxwoods, hopefully play a little Blackjack. Don
Without calling you a liar please explain how your automatic program would have made bby a winner today? And your manual exit price if you don't mind.
Very simple, my program would have covered half at a 6 cent profit automatically....I actually covered only 40 percent at what would have been a few seconds later... but at a 12 cent profit, but without the auto retrace orders, I had turned to the other stocks while BBY ran up quite a bit. No big deal. In addition, I can set the program to cover half at 6 cents, half at 10 cents or so...very flexible. I was just a bit slow trading it manually on a laptop with so many programs running...getting old, LOL. Don
Small position fills, a win and a loss, +104, 1100 shares. This strategy ebbs and flows just like every other method of trading the market. When it flows, you get PMs. When it ebbs people say it doesn't work, which, for that period of time, is the truth. If people are looking for a strategy where money just rains out of the sky for you, with no drawdowns or periods that are gut wrenching at times, this ain't it. Have a great weekend all...
I looked at TAS and there was very few shares between bby becoming unprofitable. I admit 6 cents if send right away would have been possible. And getting out manualy with less than 30 cents loss could have been tricky once again going by tas and the speed of that move. And I didn't call you a liar, no offense.
Had I played it I would also have made a profit. Open 44.90 9:30:02, my program would have send first take profits @ 44.84 and the other one to 44.79. If you look at the prints, there where some down to 44.70 9:30:13. So I would have been filed on both and take a profit (unless Don would have been there to outbid me, lol). Did not play the last 3 days. I did all the thing up to 9:28 but I played the pairs at the open. May be back next week.
I'm in no way a reference but last month, my first, I got 3 downs, 16 ups. My downs where way bigger than my winners but I'm a new kid to that and I think I can improve (get better price on winners and cut losers faster). There is no free lunch on the street.
I'm still trading this strategy, and still making money at it. The key though, as mentioned, is some heavy tweaking to the traditional method of doing it. But I still do some of that too, old school manual trading. The bigger key, imo, is to be very very good at catching the news. I spend at least an hour each morning, much more during earnings, covering the news, and I collaborate with a few other people and we all cross check each other's work. If you are sloppy at checking news, you might just think the strategy sucks when you are actually getting nailed on stuff you shouldn't have been playing with.