Trading Journal - July

I only make a few trades per day. I was under the impression that prop firms were only interested in traders that traded hundreds of times per day.

 

Seanot, sorry for the rookie question but what do you mean by BP?

Thanks, wannabe

 

Buying power.

 

I consider the market deeply oversold, the vix certainly indicates this. However...I don't see any capitulation yet. When Jim Cramer is on CNBC telling me to sell, then i will know we hit a bottom. Until then, I will remain a Bear.

 

"...If you want to trade 2-3K shares while opening 3-4 positions you should have $500K to trade comfortably."


Seanote,

The $500K here is cash or buying power? Thanks

 

I think he is talking BP.

 

That's a true statement regarding CNBC's remarks. When they finally recommend to sell that is usually the final phase of a bear market and a strong sign that we should pay attention to and begin accumalting again (if your a swing trader or have a longer hold time frame)

 

BP.

 

I don't think this is true,especially if you are trading at home with a pro firm;you can trade as much or as little as you want.

 

Short 3000 MRK @ 45.01