Why would this be embarrassing for me? People who know me know I stand for conviction. Due to lies and distortions you made here already, you on the other hand whose credibility is highly questionable. Your friends who think it's acceptable to act the way you do are probably a bunch or convicts, scoundrels, con-artists, or used car salesman. You've lied and distorted things here already. If I was 16 years old, I am more ethically and more morally mature than you at whatever age you are. Some people never learn period. Some people like Madoff are old as hell and have been lying to people for decades. Trading is a moot point. You are just a exactly what I said you are and you don't deny it. I am entertained by this new thread topic too and how much you continue to live up to it.
Probably another lie.. you're probably going to watch all week hoping for a loss so you can jerk yourself off. I will posting here alright and most likely posting to the new topic. I might do weekly updates of my trade activity or monthly (haven't fully decided yet) but not in the same fashion. This is a ET thread after all but it will also discuss about how much of an asshole Riffraffliarasshole is. I could be an asshole too and follow him to where ever he posts and expose him for who he is. But I'm not an asshole like him, so I'll refrain for now.
Just a few questions: 1. Why only trade GS? Maybe you just need a new stock. Even if you have just a laptop which you said earlier doesn't mean you can't find a new stock to play with. Sometimes you can get "too" used to a certain stock and get faked out even more. 2. How long are you waiting to get the 2-5 cents? If it's over an hour or so then fine the stock is just going sideways and makes sense to get what you can. But if it's a few minutes then WAIT! You should get in and just set a stop and see what happens. If your setup truly works then you should make money or at least see it going the way you want it to. IDK how you trade exactly or what your thinking when you get in, but it seems alot of daytraders get worried when it drops 10 cents then it goes up 14 cents and they sell. Your not going to make any money if you don't let your profits run. Set a stop and walk away. Not normal for a daytrader I understand, but if your setup works you shouldn't get stopped out over and over again.
I've traded GS for a while. I'm used to it. It's just a trading vehicle. With my commission which is per share basis, it makes sense to do a 100 dollar stock. I've traded SPY too before amongst others. GS moves more than SPY does. Also I've traded GS long enough to know that one tick on GS is different than one tick on SPY. So one tick may vary off other 100 stocks. It would be another painful lesson for me to find out what it is for say CAT, MCD, or V. That or I have to watch it for a while just to see what it is. Some trades I get into are just for scalps. Like in a channel. Sometimes my filled price is not close to my the stop entry price set. These things may all influence me to get out with a scalp. As far as waiting for .02-.05 cents, nowadays if I sense that it is slow to move or lack of fast interest in my direction, I will try to scalp out. I've mentioned here before that I understand that I need to let the winners run. I can make +15-30 per day but that's not the goal. I'm just building my account back up a couple hundred dollars so that I can let the trades run later on better setups. I think that Riffraffliarasshole missed that whole part. As I believe Satchel has said earlier, my mindset is different with the account on the edge. Letting the trades run will be in another phase. Believe or not there have been trades where I did let it run until its target. Not many but I have done it so I know that this is the right way. Most of my losing days so far recently are on poor setups and letting the losers go on too long. I do make adjusts however. We all learn from mistakes.
Ahh.. after years So in a nut shell, I lost the most in 2012. I had a -33% draw down in my account. In 2013, I had another -13.6% draw down. This year, so far it's -5.6% and we're in February. But I do believe I have turned the corner. This year will probably end up being positive. My goal is to have this year be positive as I might also be offered a job that I can definitely NOT do any trading on in April. So I have -1500 to make back before April. I will be slowly resuming trade posts for at least the rest of this month. Keep in mind, I am currently approximately -400 on the month. All of my losses this year can be attributed to 3 trades where I didn't stick it out and got psyched out. There were also two trades that would've been in the positive but ended up negative because I put up the wrong price at pre-market (no excuses even though my mind was probably foggy in the morning). Something I need to watch out for as I have done this twice already. Both trades would've been positive. One was -250 in 12/13 (ouch) and one was -80 at the end of last month. I will be cutting my trades down to only a few. I will search the market for various stocks and not force myself to trade one stock or two (GS or SPY) like I did before. Before, I would force myself to make something happen, and in most of those cases, I lose.
Nothing really today to report other than I was trading sluggo WMT. I'm not going to trade that thing again. Prices barely move so made enough to cover juice. Pretty much worked to hand the broker juice today. Wins 3 Losses 1 +4 Short WMT 75.19 Cover 75.23 Somehow I was viewing various stocks when I moved my cursor across the order entry box and a minute later, I noticed there was an executed trade. I got out quick as I did not want to short at that moment although in hindsight prices did go down afterwards. Both entry and exit were market orders so juice was higher. Mostly, I try to do limit orders. Bought WMT 75.21 Sold 75.24 Unfortunately, after I got out of the accidental short, I entered thinking the price would go up. It did eventually but took forever. WMT is a slug of a stock. I almost was going to take a loss on this one as the prices would not move forever. I just did the trade to try to make it positive. I waited hours and eventually had enough of waiting for this slug. I should've waited a bit. Bought GS 164.56 Sold 164.62 Quick scalp as I was still watching WMT. Could've waited but I didn't like to have two positions going at once and order entries to keep track of. Short WMT 75.38 Cover 75.36 Again, I didn't have the patience for this stock. It took 15 mins for the price to move down. I opted to get out to make enough to cover juice for one of the earlier trades.
Took a big gamble on TSLA today. This stock is high risk, high reward. It's especially hard to sitting through the price drop during the day while my broker doesn't allow much holding of this stock over night or I'd get in trouble. It was especially hard to sit through the trend down day where at some point I was -2400. Today was my best day to date. It paid off in after hours and was glad to get out in the green. Who knew the prices on it would go through the roof after hours even after I exited. I was happy to have my best day to date today. Thank you Mr. Musk. The man is a genius. There's a lot of his cars in my area, and I saw the big TSLA factory in Fremont as I drove home yesterday so why not on earnings day? Wins 1 +1260 TSLA Bought 201.71 Bought 197.90 Sold 202.98
For 2/20/14 Wins 2 +81 GS Short 164.39 Cover 164.25 Quick Scalp. GD Short 107.22 Cover 107.09 I really do a poor job of waiting for the best entry prices. I made a poor calculation for trying to guess the top of the early move up which made me hold the bag for a while and the profit being very little.
Win 1 +27 GD Short 107.34 Cover 107.24 This was a position that I had left over from yesterday that I refused to give up. The prices went against me for quite a while. Just wanted out. I'm really psychologically burned out from the trading for this week. Gonna just call it a day. Need to get sleep since I'm also holding a night job and weekend job too. I sleep very little nowadays. It's gonna catch up to me. The clearing firm APEX has also decided to charge unknown or un-forseen amounts for short positions overnight. Can't really hold the bag overnight on short much anymore