Keep forgetting to post and closed platform down before I saved. New method been working on was +$14.92. Only got off 2 trades out of 8 while doing other trades. Chop early made it hard to do work on new and trade old.
+670something... Was up 11xx and suffered a 580 dollar loss on FRE because i got too greedy. Could have had 31 cents on 2000 shares but took it out as a 29 cent loss. Totally pathetic i had no business being in that risky of a trade. Went from +1700 unrealized to 605. Overall good day though, just one costly mistake.
+107. Two words for today: Super Churn. My gross today was -750! I see a recurring theme here this week and I noticed something today. I would make a ton of great trades in a row then I would get a whole bunch of losers in a row and I wasn't able to control my risk as tight as I usually do because it was moving quickly. I think maybe something I could do to hold on to my gains is take a break after I get a bunch of winners. The thing I'm pondering is, when do I know when to quit? I hate to put limits on myself on a temporary top but it looks like I have to in order to get higher days. So here's a question to you folks: Should I make a "dollar value target" or a "number of positive trades" target? Here is a link to the poll I've created. http://www.elitetrader.com/vb/showthread.php?s=&threadid=56259
If you are credit trading, isnt the idea to churn? I cant imagine losing 750 dollars and making money net at the end of the day.
from your responses it seems like a few of you are "momentum trading".. But the stocks many of you are trading are pretty cheap. I always thought momentum trading was dealing with more high flyiers moving on news/high volume? Am I wrong here?
A daily win limit would be a good idea for this week. Say your goal is to net $400/day - play 'til yer up 400, or down 400 - then quit while you are ahead or not too far behind. Nothing is more painful than being up then giving up your gain(s), no matter how great or small. Now if only I could follow this advice . . .
I worked half the day today and should of stayed. LU took a power move to the moon today and I missed it. Tomorrow I will be sitting my butt in this chair all day long from open to close.
Are you on some kind of record winning streak? I read through all 250 pages of this thread and unless i missed one you have not had one losing day.
I only lose a few times a year and when I do it is minimal. I have discussed this strategy before in old posts.
Hey everyone. I will start posting my numbers tomorrow. I am not a newbie. It will be interesting to keep a journal here, sharing with other traders. I traded for SwiftTrade 2 years, now genesis for 1 year. One thing that might differ me from other good traders, I don't punch into trades, only punch out when the phone rings. Averaging 1 million shares a day. The credits add up. Making lots of gross too. Later