dan don't dis momentumstockplays.com. i don't see anywhere your stated experience with them. don't toss out a statement like that without explanation.
you seem to be promoting M-T at every turn. what's the sum total of your experience with them? what's your relationship with M-T? i find it mildly intriguing that your handle here at ET is remarkably similar to "THUNDER", one of two traders (the other, "LIGHTNING") who make the calls at M-T. and now here enlightening us as to their "record". care to comment on this "coincidence"? did you make the 16 points? thunderbolt says: "I already spend my days there--and I like it. The question is, does anyone else use M-T?" i'll bet you do.
My experience with M-T is limited--roughly 4 months. My handle, purely coincidental. Did I capture 16 pts.? Not even close--all I need is 1 1/2 pts. on 500 shares per day. That covers my commissions and puts a tidy profit in my pockets. Get my drift ? BTW, run a search of my name"thunderbolt" and find out about my other posts on the subject. I'm just looking for others traders who are/have used them to get their feelings on the fast paced environment that M-T offers. That's all--chief
i know M-T. may i ask you how you manage all their calls? do you take all the calls or a select few. if the latter, how do you make the selection? and how do you know when to exit since they don't call exits until the position is at least back to even money AND you don't really know the criteria they utilized to call any particular trade? thanks in advance for the answers. no offense meant with the last post.
I won't elaborate on my entry/exit strategy for various reasons. However, I will say that I only have ONE open position at a time. I focus on that trade until it is closed. Then, I'm on to the next. I started this technique because I was undercapitalized when I began. Now, my capital has grown quite well but the strategy worked so well--I stuck with it. I'm afraid that greed would hinder my concentration if I opened several positions @ once like many of the other traders do. It seems to work well for them but I'm content with my returns. Have you used M-T?
yes i have. and they still intrigue me. they make a lot of calls and a lot of those calls go into the money. i just couldn't manage their calls to my satisfaction and that made me nervous. that's the reason i asked you so many questions about your trade management. you are successful where i have failed. i wondered how you are so consistently profitable each day with them. any advice you could give that would not disclose your trade secrets is appreciated.
Well, that's a tough one. Ummmm, well, I guess I would refer to my previous post where I point out that I only have 1 open position @ a time. I keep a tight(.15-.25) mental stop in place--depending on the price of the stock. And I take what the market gives. If the beast gives 50 cents--great! If it won't give a nickle, well that is its nature--I'm not going to fight him. I know this is all too vague, but it reveals a lot without saying too much. Every trader--as M-T points out--must make their own decisions and become independent to be successful. Please don't take this the wrong way. By no means am I promoting M-T--I hate paying every month, but I've learn true discipline and concentration since being there. I can now filter out all the noise from the market and focus on making successful trades.