I dont have a picture again, but i did 79 today. Not exactly what i was going for. That pushes up the number i need to about 140 a day to reach the assigned goal.
I love this thread, This shows me what I can do if I work smart and hard approaching my goal, I don't care if its fakes, As long as some are real, thats fine with me, As long as someones making good money, thats XEON lights at the end of the tunnel When I was in my other business, other players in the game would not believe the numbers I was pushing out I was pushing over 200k hits to websites a day and making XXK a day, Talking to a few other people who were doing even more then that made me want to push myself even harder to be even better. This is business, everybodys always one uping each other, this what makes competition so fun and productive. In the end everybodys who's competiting is ringing the register.
While I take everything I read on the internet with a good dose of skepticism this is still one cool thread. Now, everyone here knows that I trade LU everyday. Most of the time I represent atleast 10% of the volume on it everyday. although they have a tight trading range this stock still does manup upticks and downticks for anyone to make serious money on. If you have the wind at your back on one uptick throughout the day and you grab 250k of LU for a penny guess what you just made 2500 bux. Now do this a few times a day and you are talking money. I dont want to make it sound like its easy because its not. There are alot of traders,scalpers, in LU everyday doing the same sort of things. There are many fake bids and offers to try to push the stock in the direction the trader wants. Add on top of that the specialist who does his regular tricks of the trade and you have one stock prime for alot of volume. The stock trades at 3 for a reason, I know that but I dont care about the company fundamentals or how much cashflow the have. All I want to know is its cheap, you can move size, and it does very decent volume day in and day out. While many people have PM'd me about my LU NT CPN F ELN trading I have always tried to tell them that my style takes quite a bit of a bankroll to imitate. First, I go in on size atleast 100k-200k just to start. I will buy up to 500k but usually no more than that. If you watch LU througout the day you will notice many particpants have size on both the bids and offers. CAES,CSE,ARCA,INET all partipate along with superdot to trade this stock. The bids are massive and so are the offers, sometimes going into the million range. If you hold a position, say 250k and you dont get an uptick, you can blow out of it even money with no harm done. You wouldnt just go into a LU position with this type of size and not have a way or plan of getting out atleast even. Now, sometimes I will sweep up an offer but for the most part I try to avoid that. Using the open book is a necessity when trading these cheap listed stocks. It is very important to know where your support lies on the bids and where you will have trouble on the offer. Its not easy trading this stock especially like I said with all the trickery involved my most of the partipants, so you have to know what is real and what is fake. Watch LU throughout the day and you will see exactly what I am talking about. Huge bids that will dissappear in an instant, asks that will do the same. I am very aware of the of the skepticism needed to "believe" someone who posts on an internet chat site, lol, I think we all are. But my numbers are as real as they get. I try to inspire others to know that they can do better than just a couple hundred a day. I like to give them competition because competition breeds encouragement for them to get better and do more in there trading.
Thanks for the comments on your trading. 10% of the volume is about 4 million shares that you swing around daily. Do you do this with significant leverage? Just wondering because, like we all know, things happen. You load up the boat with 500K shares. Then whoops, trading is suddenly halted. And OMG, there is a fraud, lawsuit, bankruptcy, whatever, rumor...then pow, LU opens wayyy down...margin call...liquidation...down a mil...ouch. Or crap, your ISP goes down, trading software crashes, phone doesn't work, can't get your backup broker either, a huge seller slams LU down a point, etc, etc. Just wondering what your emergency plans are. Maybe this stuff will never happen to you. Good trading. C
doom and gloom, I have thought of all of it. Im not holding my positions that long, most 1 minute max. But you are right all those could happen and some more, ever see Armageddon.....
June 22nd...officially net short and waiting to get clipped. I am not so sure of going short right now but I must follow my system or I have none......
What mksummny is doing is not easy. He is essentially taking money from the other traders who do this and the occasional institution order that comes in on lu. So for all those prospective traders thinking about trading this style, realize that most likely you will just be giving your money to mksummny.
ok, so everyone on ET gets to see what a crappy day looks like for me. I am off on vacation to Malaga Spain until July 12th at which time I will resume fleecing the LU ATM machine. Yes, the type of trading I do is hard, by no means do I want to make it sound easy but anyone can learn to do it and implement it well. I will get back to all of my PM's that have been sent to me when I get back from vacation. for now I am going to go and relax in one of the nicest places in the world that I love to be. Trading today sucked. I got knocked on F early for a few g's and had to trade my way back. I only did a little on LU early around a million shares or so, just could not catch an uptick today.
Yes, I believe that is the case. In fact, one of the ET posters, GoodPunk, maintained a daily journal here of his LU trading. He went broke doing that. It is highly likely that a couple of tyres on mksummny's Ferrari came from Goodpunk's trading stake.
I have been trying to figure out his strategy on LU, and can't find the edge. That doesn't mean it's not there, I just havn't figured it out yet. He's making money and that's all that matters! Good trading to all! Mike