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Dbphoenix: Yes, I got it. Since only at my current stop loss would indicate to me if I was wrong or not, I would leave it at that. I don’t want to regret getting shaken out since I have been shaken out hundreds of times a day when I was at the prop firm. It already cost me my job. One...

Hii a_ooiioo_a: Paper trading is all I got right now. It is a mean for me to try to prove that I am not a bad trader, even though I got terminated from a prop firm. So every single penny counts. Trying more than one portfolio sounds like a good idea. I will come up with some strategies...

QQQBall: I thought about placing my stop loss near the top of the gap, but then I realized the filling of gaps may not mean anything. I analyzed the 3-month QQQ chart, and I saw six gaps. Three of them obeyed the gap assumption and 3 of them violated it. The red and yellow rectangles shown...

Wednesday, November 20, 2002 I appreciate all the feedbacks and advices. It makes me feel less like I am doing this alone. Thanks guys! Volume: The market has gotten me very confused. In the intermediate term, it is showing me an uptrend, telling me to go long, but in the short-term...

Tuesday, November 19, 2002 I didn’t do a single trade today. I just sat there and watched Nasdaq plunged, climbed back up, and then plunged down again. I am getting really nervous right now as I see Nasdaq forming a short-term downtrend. My 400 QQQ long position, which I bought at...

Monday, November 18, 2002 Today I closed out my position in my $500,000 paper account, and determined to just trade the smaller and more realistic $10,000 paper account. Trading the larger account was a mistake because the commission was ridiculously low. It was $29.95 per trade...

I noticed that I didn’t create a trading plan, so I worked on it today. I have considered incorporating more technical indicators into the trading plan, but I figured that the more indicators I use, the more assumptions and predictions I have to make and the more nervous I’ll get. So I...

momotrader: I have seriously thought about business school, but there are just too many obstacles, not to mention the uncertainties. In order to even get considered into business school, I will need 3.0+ GPA, 2 years of work experience, and a high GMAT score. I don’t think I have any...

Saturday, November 16, 2002 I just got news from an ex-colleague that some trainee traders who I used to work with are now making a lot of money at the firm. I am very happy for them and I hope they will continue to make money, but to be honest, I do feel a bit down after hearing this...

Swish: I have encounter similar problem, but only it was the opposite. When I was trading real money, I was comfortable trading small share lot. My results were better and I had more confidence. When I was doing larger share lot, I got nervous and get shaken out too easily. Beside the...

I guess it is a good day today. Nasdaq closed above the 1400 psychological level. My long QQQ position is showing some more paper profit, which is enough to cover my loss on my previous transaction where I shorted GM. I am tempted to close the position and cash in on the gain, but something...

I have used up my buying power on the 20,000 shares QQQ long position, so I didn’t make any trade today. I just stayed at home and watch the position develop. Luckily, it didn’t hit my stop loss today and I am in the “money”. I am going to let it run to see what happens. I have...

At that prop firm, there are 2 kinds of traders. One is the rebate trader who would give up on gross profit to get rebates from ECNs doing bid/offer. They traded ERICR and PALM and could make around $1000 in rebate a day. Unfortunately, after the reverse split of these stocks, their volume...

Background: I graduated from college just a few months ago with a finance degree. I joined a prop firm soon after. During my time at the prop firm, I had a whole new view on the market. The value investing mentality that professors educated me with became obsolete. I now know that the...