$5000 day, Is that what you would consider a good day?

[traderich]

I hope that the ones who said I shouldn't brag realize I didn't mean this as a brag, rather was just trying to see where I stand in the pack.

Interesting that there are many who wouldn't think anything of a 5k day.

I have had much bigger days, both up and down. The best day of my trading life was actually March 19th, 2003. I had a long position (MXT) was holding 35,100 shares at the open. It had flatlined at 1.25/share. I think my average buy price was about 1.50 or so. MXT went up 1.01 that day. I sold off 10k shares during the day, but my acct. value went up in the 25k-35k range. Not bad for me, as my total acct. value at that time was only about 80k. Yes, I had way too many eggs in that basket I know!


On the flip side, I had 10,000 shares of MLS last year. Held it overnight like a moron and it gapped down over 2 points on me, so yes, I have had it both ways.

So, if I seem happy with making 5k trading on a day, I guess it's because I've had my share of down days too. Recently though I have strung together some very good days and feel like I am beginning to expect it now and seem a little de-sensitised to it all.

I will show the results of 2007 later so you can see the swings I am talking about.

 

[traderich]

Here are the last 29 days:

4986
3416
-24
-3054
3176
-2734
-264
4336
1066
1126
2236
1756
906
1266
-1734
5296
-2434
-1634
2236
-3054
-264
-3584
-1434
-34
1296
-404
936
5506
1246

as you can see, some pretty sizeable down days scattered throughout too.

The 5 bagger days are nice when you get em!

peace.

 

[ElectricSavant]

traderich...you are just...just...well a trader!

Quote from traderich:

Here are the last 29 days:

4986
3416
-24
-3054
3176
-2734
-264
4336
1066
1126
2236
1756
906
1266
-1734
5296
-2434
-1634
2236
-3054
-264
-3584
-1434
-34
1296
-404
936
5506
1246

as you can see, some pretty sizeable down days scattered throughout too.

The 5 bagger days are nice when you get em!

peace.

 

[feb2865]

Traderich

Obviously you're well capitalized to take a risk like that. As I said before, 5k a day is possible, as I reach those figures myself and more.

I will not diminish your success as it seem s that you found your edge on the market for some years now. I remember when I found mine, the feeling was overwhelming. Keep the good work my friend!!!!

will you tell us about your risk/reward ratio?? How do you calculate risk?? Seems like you have a bad experience holding a stock overnight.

is good to hear stories on both sides of the corner and how people overcome losses as well as keep consistency.

 

[qll]

here is my days within the past 12 months
biggest one day loss: 80k, (overholidayloss)
second biggest one day loss: 50k, (day trading loss when i restart my day trading activity)
third biggest one day loss:40k (overleveraged in position trade)

i am still up by 250k for the past 12 months.

i never remember a profit day. i don't know why. fear is the only thing left in my mind. all i care about is NOT TO LOSE!

 

[austinp]

<i>here is my days within the past 12 months

biggest one day loss: 80k, (overholidayloss)

second biggest one day loss: 50k, (day trading loss when i restart my day trading activity)

third biggest one day loss:40k (overleveraged in position trade)

i am still up by 250k for the past 12 months.

i never remember a profit day. i don't know why. fear is the only thing left in my mind. <b>all i care about is NOT TO LOSE!</i></b>

**

If all you "care about" is not to lose, why are you trading in such an extremely high-risk manner?

With an equity peak of $420,000 profits, you lost -40.47% of that balance in three single sessions.

In one single session of "day trading" attempts, you lost -11.9% of that profit balance.

Perhaps you really meant to say, "all I <b>inwardly fear & dread</b> is not to lose.

Your leverage is way too high, as noted before in other threads. Unless you adjust your market exposure greatly, you are poised for a disastrous event in the future.

Please strongly consider backing off the high leverage size... you are playing with fire, the tinder is bone dry and there are sparks all around you.

 

[wee man]

Quote from traderich:

I am curious what everyone on ET considers a good day of trading.

What would be a good day of trading for you?

I am talking about a day that makes you really happy. Enough to go out and celebrate. One that would make you say, WOW! what a great day I had today trading.

I used to think that $5000 in a day would be incredible, but now that I have done it quite a few times, I am beginning to wonder if I am losing touch with reality.

When I worked as an engineer, I remember thinking how great it was when I got a job paying $65,000/year. Nowadays, I think of that as too little money for all the corporate bs.

So, let me know what is a big day for you. I am curious if I am completely out of touch or maybe there are guys who are pumping out some much bigger numbers.

By the way, I am talking about PCR,PYX,MOS,MH, PKG, and FBP yesterday. Bought in for 200,580. Sold for 205,780 MOC.

The correct answer to that question is to ....ask your wife !

 

[logikos]

Quote from traderich:

Here are the last 29 days:

4986
3416
-24
-3054
3176
-2734
-264
4336
1066
1126
2236
1756
906
1266
-1734
5296
-2434
-1634
2236
-3054
-264
-3584
-1434
-34
1296
-404
936
5506
1246

as you can see, some pretty sizeable down days scattered throughout too.

The 5 bagger days are nice when you get em!

peace.

Traderich, congratulations on the great day. I've had some big days as well in my trading history, and I admit they are euphoric. I do concur with those that say to not trumpet your achievements. My worst days have come shortly after my best days.

Viewing your results above, I would suggest that you concentrate on reducing the number of losing days, or at least reducing the loss amount on a losing day. That would be a higher priority (in my opinion) than striving for bigger numbers on win days.

I like James Cramer's view in his Confessions book - his goal was to make money every day. This goal develops resourcefulness in your trading, to be able to turn a losing day into a winning day (or at least B/E). This is a lot more gratifying that wild P/L swings, and helps you sleep better at night!

Happy Trails.