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That's reasonable, anything lower is very good.

I worked at the old Dean Witter in SF for 3 months. Nothing interesting happened the whole time. Hope you have lots of tape.

I might be one of said morons. Can you explain more.

I suggest trying to bid for 1/4 to 1/2 position about 5 mins prior to open, then adding to the position on new highs at the open. That way you have a better average and can hold through any little swings. That would get you in stuff like ZMH and FTO today for a nice ride. I don't currently...

Volatile times create the most opportunity. All other times are just practice.

www.tuco.com

Once again, for those of you that have questions or comments about this P/L thread you are more than welcome to post them here: http://elitetrader.com/vb/showthread.php?s=&threadid=101845&perpage=6&highlight=p/l%20discussion&pagenumber=17 Steelhead, I posted every days result last year...

Can you become Warren Buffet while daytrading. No, of course not. Get over it. Can you make more than most other professions while in the comfort of your home while spending time with loved ones and those that matter? Yes, and it's not that hard.

Worth posting again. I love when funds blow up. This puts me around $100k for Jan. Enjoy it while it lasts guys!

Eric there's a K missing in your post...just fyi :D It was like shooting fish in a barrel today. And yes, I will probably only post when I make a load of $.

Lots of volatility out there...spikes everywhere like SYK WMB SHLD WB were very profitable. Got to have a good scanner.

I began using a strategy 2 years ago with nearly the exact approach from your first post. I didn't read the rest of the thread so maybe it has matured. Anyway, keep at it. You have the right idea. Be willing to adjust the strategy according to what you see. Don't make strict rules. pm me...

Alright, for example if I was looking for something to short today as a breakdown candidate something like BLUD would work. I would be happy to short that at any price up to around 30.80. The stop would be the high at .86. Of course I have more rules about when to enter shorts based on market...

That's a good clarification. Averaging down as a method or strategy is not a good idea. Using instead as a tool for position entries is extremely beneficial. Anyone find it funny that 90% of traders think averaging down is the devil (because that's what new traders are taught), and 90% of...

My average winning trade probably consists of 3-6 entries depending on how long it takes the trade to work out (and about the same # of exits). In the case where I can get shares lower, then I don't have to get as many shares at the break out as I would otherwise. That gives me a better...

I haven't read this whole thread so maybe this has been mentioned... There is such thing as averaging up and down in the same trade. If I'm taking a long position in anticipation of a breakout then I will be happy to buy it lower as long as the chart is "in tact". Meaning if I were to still...

I can't answer your question completely, but when I was with Genesis each of those routes had their own fee and speed fyi.

Another wasted day here. My total P&L for 2007 is $446k which is more than twice my previous best. Most of that was made in the last 6 months. My goal next year is to double that by increasing size, trusting my instincts, and being willing to take an occasional bigger loss. As long as the...

Had the opposite effect for me...couldn't keep my eyes open. Most over-hyped trading book around imo.

Some of the easiest and oldest trades are continuation setups like ABK. There are setups like that every day. Looking at that chart it's easy to see where you have a safe entry while it flatlined and never would have got stopped out before the breakdown. You have to make your own trade...