Average daily profit with $50K account?

yes, if he's picking 50 stocks, however he's doing that (i'd like to know how and based on what criteria...), and 5 are profitable, 45 aren't, therefore, 90% losers. that's simple enough math is it not?

i'm aware of the use of filters to look for movers. i just don't like them as much as knowing what stocks will move and why, pre or post-market, either going into the open, or preparing for after the close. i'm speaking of news event driven stocks, and earnings reports, not extraordinary events or major market volatility events.

i will have to test this strategy out in the future. right now, what works for me is making me more than "a good six figure income", closer to 7, so no need to change it. tweak it, maybe.

Quote from lwlee:

90% losers?

He places 50 orders and usually gets filled on 10% (5 trades) of those orders. Of those 5 trades, the win/loss is 75% for newbies. Don seems to do better in this thread. Picking the stocks could be automated. Look for gaps in after hours trading.
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Quote from TRYKtrading:

yes, if he's picking 50 stocks, however he's doing that (i'd like to know how and based on what criteria...), and 5 are profitable, 45 aren't, therefore, 90% losers. that's simple enough math is it not?

i'm aware of the use of filters to look for movers. i just don't like them as much as knowing what stocks will move and why, pre or post-market, either going into the open, or preparing for after the close. i'm speaking of news event driven stocks, and earnings reports, not extraordinary events or major market volatility events.

i will have to test this strategy out in the future. right now, what works for me is making me more than "a good six figure income", closer to 7, so no need to change it. tweak it, maybe.
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Actually no - that point of view is retarded.

He is LOOKING at 50 stocks and WILLING to enter a trade there IF CONDITIONS ARE FULLFILLED. He only enters around 5 trades - so the other 45 are NOT loosers, as they are never entered.

Not every signal is traded, like in any other trading system. With stocks, and especially opening gaps, one obviously watches a lot more stuff than will finally be traded.
 
dude, I think if any more than 10% of picks came in, Don would be in trading nirvana.

It's like if Apple market price was going to be 250 today but Don was able to get in at 248 premarket.

He's putting out orders in the hopes of catching some easy money.

Quote from TRYKtrading:

yes, if he's picking 50 stocks, however he's doing that (i'd like to know how and based on what criteria...), and 5 are profitable, 45 aren't, therefore, 90% losers. that's simple enough math is it not?
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no, it says quite clearly in that paragraph he purchases 2,000 shares of 50 stocks a day pre and post market.

but i'd rather get the explanation from DB than someone completely on the outside. thus, why i asked the questions.

and fuck off with the name calling. if you can't keep up a discussion without insulting someone, keep your keyboard to yourself. i'm not replying to you after this until you apologise.


Quote from NetTecture:

Actually no - that point of view is retarded.

He is LOOKING at 50 stocks and WILLING to enter a trade there IF CONDITIONS ARE FULLFILLED. He only enters around 5 trades - so the other 45 are NOT loosers, as they are never entered.

Not every signal is traded, like in any other trading system. With stocks, and especially opening gaps, one obviously watches a lot more stuff than will finally be traded.
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They are limit orders, not market orders.

Quote from TRYKtrading:

no, it says quite clearly in that paragraph he purchases 2,000 shares of 50 stocks a day pre and post market.

but i'd rather get the explanation from DB than someone completely on the outside. thus, why i asked the questions.

and fuck off with the name calling. if you can't keep up a discussion without insulting someone, keep your keyboard to yourself. i'm not replying to you after this until you apologise.
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he's shooting at fish in a barrel, if i'm interpreting his strategy correctly.



Quote from lwlee:

dude, I think if any more than 10% of picks came in, Don would be in trading nirvana.

It's like if Apple market price was going to be 250 today but Don was able to get in at 248 premarket.

He's putting out orders in the hopes of catching some easy money.
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Don has been running his OPG thread for like 3 or more years now.

I suggest you take look before making such comments. Don't fall into some of the narrowminded-ness in this thread.

Quote from TRYKtrading:
he's shooting at fish in a barrel, if i'm interpreting his strategy correctly.
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yes, i know that. it says right in the paragraph, automated using stops.
if they were market orders, he'd have his ass handed to him by the specialists.

Quote from lwlee:

They are limit orders, not market orders.
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Quote from TRYKtrading:

with a $100K account you should be able to do that, and then some, and with a lot less stock picks than DB is using everyday,
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I trade futures as well now, but when I trade stocks it's only 1 or 2 stocks and only 1-4 trades a day to generate $500 or more profit. I've selected stocks that move 2 or more points a day and out of all the ones out there that meet that criteria, I pretty much settled on POT (though Friday I traded AMZN).

Because there's a decent daily range, I trade small size (200-400 shares most of the time), and so have low risk in the event there's a surprise market move or sudden news announcement on the stock.

Because I trade the same thing over and over again, I get to know how it reacts to various setups and price levels, making it much easier to wait patiently for only the best setups.

Early trades are the best, usually between 9:30am and noon.

Examples from this week of how well this strategy works:

5/21 AMZN (400 shares) -$140, -$143, +$816, +$264

5/19 POT (400 shares) +$408, +$424, +$284 (this was a day of exceptionally strong moves off the open, wish they were all this easy)
 
i don't have time to read back 3 years to know how this strategy works or doesn't work. the way i see it, is if it takes executing 50 trades to make money on 5, his rate of success is ridiculously low relative to the amount of capital he's committing to the total of all trades.

$1M+ in BP, he should be balancing that out across 5-10 positions that have a greater potential to profit than simply running off an automated program to see what hits and what doesn't.

may as well short/long aapl for 0.50 and make 5000 a day on 2000 shares at a time each direction using stops in a cascade all day.


Quote from lwlee:

Don has been running his OPG thread for like 3 or more years now.

I suggest you take look before making such comments. Don't fall into some of the narrowminded-ness in this thread.
More...
 
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