That's not nuts. If a stock moves up 10% each day for 5 days, that's 60% compounded! Of course, my time frame is longer -- something like 10% in 3 weeks for 3x5 weeks!
ahh ok that makes more sence ,, and YES ! im back for a bit at least and am lowering my subscription cost for my journal..... ok in all seriousness, i posted in the prop forum and wanted to go more in detail here but i cant find out how to post a chart here i shift prtscrn'd form freecharts.com and pasted in word and copied and now want to past here.. any ideas as for the guy above 2 posts who seems to have a thing form 10 year old girls.. nice one lol
OK, I had a lot of questions come up after that last post. firstly thank you all who pm'd me and your concerns i know is for my own good, I am well aware the strategy that prop firms use, but i just have to try one out too see what comes out of it when i have a lot of tools at my disposal. 1. I am aware of the finances of the situation and do not intend to pay anything out of pocket, 2. also i realize that my trading style will have to greatly altered, 3. On top of that i am also aware of the restrictions I will have imposed on me with 10-20 $ stop losses ect. Again I need to try it out because at present i cant trade retail. so today I was looking in to quick fast buys in and out as would be needed in a porp firm. i was watching apple I could of made up to 3$ but realistically there would of been slippage, bad luck so I'd say 1-3$ im not sure how much funds a prop firm would of gave me but if i had 1000 shares than i would of GENERATED 2000$ minus fees ect id like to post my chart here for all you to see and also to keep a record for myself. and i would also like to post a chart on gold.. I'm used to buying a stock and having a target of 20-30% in a couple of weeks but thats not happening without my retail account Also i have been watching gold daily for while. i have noticed a simple inverse pattern that occurs 70% of the days resulting in a 5$ change. this is very consistent and has been so for a while. it is rare that this pattern doesn't arise. I've never day traded gold but would like to at least take advantage of this situation. If i can get a retail account to trade gold, where would be a good place to go to easily and quickly set up a trading account. looking for something taht wont eat up my 5$ profit per ounce, would need a lot of leverage. 20-1 minimum is this possible. also i notice on primitive gold chart it is in 24 hours. Ie nymex globe ex, honk kong, london ect would i be able to trade the spot price 24 hours a day ? not having to worry about what time gold is on which market ect is 20-1 leverage out of the question ? Id like to post todays pick apple that i would of had a 1-3$ gain (scalping) so help in pasting a pic in here would help Oh, i have to go! im getting alot of pm's about my return to this journal. i wont be able to answer you all heres a pm about some missing reading my posts and my out of the box attitude towards punctuation. take care all. Ill try to post apple to see if any one has anything to say about it
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If you don't have the funds to trade yet just trade sim until you have enough money to trade. Trade the /ym or something. its 5 bucks a point. YG mini gold. You mentioned you had an idea for gold. Take this seriously like your going to start a business. You can't start a business and expect to last with 2k. The only way anyone could do anything with a 2-5k account is if they were very experienced and already knew how to trade very well as it is. If you still are unsure of yourself or your methodology (it isn't consistent) then you need to stay in sim. One of my favorite advice on ET is from Handle123 he says if you can't make money 12-15 days you shouldn't be trading live. Best to you!
Granted you`ll get burned when you star daytrading.There is very very SMALL and short window of opportunity,to extract something from the market.You have got to be very skilled or be guided by some heluva master flo-master.
GOLD I didnt do much today and was a bit bummed i have not yet had a call from the prop. i did like i do every day watch gold 2-5 times a day. It was a very strange day for gold. very uncharacteristic. If i was trading today i would of pulled my money out at a small loss. this awkward day for gold has me a bit worried but we will see if it starts to go back to normal behavior gold was down 15 $ which is normal range. it should bounch back by 5 dollars at least to make its loss les then 10$ for the day. Due to the abnormal behavior today I would not bet on it , lets wait to see gold come back to a more typical pattern dont know how to post a gold chart on here, can i get gold chart from freecharts.com? well firstly ... to keep it short. 1. I have traded in the past and was very successful over the span of 1 year (there were few stocks that triggered my interest so we are actually talking about looking at hundred's of stocks and only buying 5) yes it is small but each of those 5 yielded 20% +... YAH YAH i know if i was doing so well why did i stop ? what can i say, in short, because of reasons 3 no its no a financial thing, i am comfortable spending 10-20 k and loosing it 4. i have been out of it for a while and a bit nervous using the strategies from ET. but i will try, so far i have not seen anything that stands out . So i will use my intuition and make a lot of bad calls until my intuition is adjusted
Trade the /ym or something. its 5 bucks a point. YG mini gold. don't quite understand but ill research it more later