You are right your set up needs some work. 1- Your first pair of alerts track the new highs and lows of the day AND 80 percent minimum position in range of the strongest....your minimum postion in range is correct on that...it is 80 percent minimum, in the second alert of the pair you put in a running down and a running up alert AND a new one minute high and new one minute low... now you are tracking declining stocks and rising stocks within the 80 percent top range.....you will find that the rise and decline of the stocks will track many of the same stocks in the new high alert filter....as long as the minimum current filter is the same in both! I do not put the 80 percent minimim range in the first half....only in the second....the first half I am only interested in new highs....Does that make sense? I would start at 20 versus 30, just my preference...than look for trades at 40plus..... again you really do not need range in the first half...sorry about that I may have not explained that well 2-Your pair of alerts in the second pair track the weakest stocks of the day, first part being new lows of the day, and second half same running down and running up and new 1 min high and 1 min low of the day, remember keep the min current filter the same for the pair otherwise you get a bunch of differant stocks showing up in the pair....your filter for tracking weakest stocks is MAX POSITION in range 20 percent this gives you bottom 20 percent stocks in a range. Note.....the range for the first 5 minutes of opening will be wild on both 1 and 2....because a given stock can move so fast at the open....really you do not need to pay any attention to the second half of the pair until it tracks at 40 plus....it will just get you confused. You in reality have 4 scans going 2 for the strongest and two for the weakest....and they track how they move. Depending on your style you have the opportunity to long or short either side.....since you will have a good idea what the stock looks like within a range, AND how they are acting once tracking the 40 plus or 40 minus AND how the s/p 500 index is moving....up down or range bound. Like dt I use 40 plus....but heck you can use 30 plus...and start looking at it at 20....it is more a personal preference. It is really pretty simple once you get the scans right. I will be honest with you if you are going to do low volume stocks...I would raise your current volume....but that is just my preference. Hope this clears things up.
Well, I'm getting some new rules for intraday trades. I'm cutting my tools down and focusing harder on what I know - quit trying to use shit I don't know how to. Secondly, I'm going to start using what I know best more often: swing trading. My day-trades are going to be cut to scalps on 500 shares or less, $5 profit goal ($4.80 after commish). Small, but it will get me used to being profitable, build hunger withought building greed, and allow me to practice a way paper trading just can't do. No matter how hard I try, I just can't be as cool with money as I am when I'm paper trading. I'll be writing new rules this weekend. So if any of you want a copy of what this $5000 lesson got me, just PM me. I'm sure most of you already have these strategies, but I guess some lessons need to be learned the hard way. My chin is still up though, the $5g's was not wasted (or at least I hope it won't be). I'm still ok in any case. I am up over 50% this year; I've just got to step back to feel better. Thanks to all of you who said you're sorry for my loss - no need to be sorry, not your fault (unless you're the spec who screwed my MARKET ORDER!). Tomorrow won't be nearly as bad. Never again will this happen.
In year 2000 I held a very large position in a stock called purchase pro.....to make a long story short management lied on revenue and income and the company went broke....I lost tons of money. I remember watching the ppro ceo talk on cnbc, he was out of lasvegas and honest to god he looked like a gangster....resembled vito corleone.....the gangster collar and all. I should of trusted my gut and got out.....but hung on and lost all my money in the stock.....boy that was a lesson.
Guys, Let's not forget this is a thread about trading blotters. Let's stay on topic and if you would like to discuss trading strategies (or anything else) then please start another thread to do that. Thanks.
Made some dumb trades at open and ended up down -250. Closed laser in disgust before I could capture blotter. Here is a shot of some overnight stuff I closed today though.
As you guys post in the next couple days could you note whether you are trading retail, or are licensed? Just curious, no ulterior motive.
Today is really slow so far so I was looking over some stats for year to date. The fees really suck, but hopefully over the years they will continue to drop. Up days =72% Avg Up Day = $1064 Avg Down Day = $797 % Commissions of Gross = 27.5% % All Fees (Comm/SEC/ECN) of Gross = 44% % of Days >$1k = 35% % of Days <-1k = 7.5% And today's results are attached...