Diamondtrim - thanks for the tip, the setup did me well on WERN and ANX. GEPT fell apart but I didn't touch it anyway. I'm a big fan of the site - i tried to get multiple free trials but unfortunately they're smart to it! the free t-shirt makes a nice dustrag though...
lol, sorry buddy, you must be the luckiest arb guy in the world - 6k a day on 20-80k? try 200-800k, maybe.
I didn't go back and trade the afternoon at all. So, I'm down commissions today. That's 3 down days this week out of 5, 4 down out of the last 6. Very frustrating. I hope I'm not getting in a rut.
I have rolling arbs that are in the 2-3 week time frame (they amount to about 5-10% of that volume). The scalps and adjustments account for the rest. All together they add up to 20-80k/sh on average on $3-4k /day avg. Today, it's about 50k sh. and the arbs are kickin' in their profits ta really push things up.
I was looking through the thread and I'm really beginning to wonder, how is it you guys that trade equities are so consistent? Is there some sort of actual edge to your trading or do you just know your markets extremely well? I just trade off of market feel (no real edge) and I would really like to have the consistency that people here seem to have.
You've gotta have an edge. Yet if your "gut instinct"/market feel is that damn good....well, I guess that's an edge too.
No, I really don't have an edge at least anything that I would call an edge. I would like to, that's for sure. I'm profitable, but not to the point where I would like to be. I think that's why I have trouble gaining the confidence to trade size, that and not being as consistent as I would like to be, which probably also comes from not having an edge.
Things finished out at the top, 2 nice days in a row here. +9k at ib, second account dropped back ta +475. so about 9.5k today. Lots of action last 2 days.
Definitely. When I know a trade is a good one, I'll do whatever is there, 500 shares, 5000, 50000 if i can. You'll need to find an edge if you want consistency and long term profitability.