BestDayTrader Q&A

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Quote from Shogun-Trader:



Here to talk about trading.
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Ok, here's a hypothetical trading related question.

You make a call to buy XXX (daytrade) at $20.00. It drops to $19.50 before bouncing to $22.00, by the end of the day. How do you record this trade in your p/l?

The next day you have the same stock in your sights. You make a call to buy XXX at $22.00. It drops to $20.00 without bouncing at all. It never went above your entry price. How do you record this trade in your p/l?
 
Quote from macal425:

Ok, here's a hypothetical trading related question.

You make a call to buy XXX (daytrade) at $20.00. It drops to $19.50 before bouncing to $22.00, by the end of the day. How do you record this trade in your p/l?

The next day you have the same stock in your sights. You make a call to buy XXX at $22.00. It drops to $20.00 without bouncing at all. It never went above your entry price. How do you record this trade in your p/l?
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$2 profit the first day, stopped out for a .25 loss the second.

Oh, wait, you weren't asking me.
 
Look dipshit I wasn't talking to you and not that this is any of you business but I play cards 5 hours a day so. I watch what goes on here because I'm trying to learn by seeing what everyone is saying. What makes you think I don't have any money just because I don't have it in my trading account. When actually all I would have to do is call in a wire and deposit 10k or so as you can see it's not a pointless post.

I'm learning step by step and the only way someone can learn is to ask questions and read and I do alot of both and if this bothers you well there is only really one thing you can do
Blow Me
 
Quote from macal425:
You make a call to buy XXX (daytrade) at $20.00. It drops to $19.50 before bouncing to $22.00, by the end of the day. How do you record this trade in your p/l?

The next day you have the same stock in your sights. You make a call to buy XXX at $22.00. It drops to $20.00 without bouncing at all. It never went above your entry price. How do you record this trade in your p/l? [/B]
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Our day trades arebased on breakouts and trigger points.

If the stock breaks 20, we enter.
Comes back down to 19.90-19.95, we exit.
Breaks 20 again, we usually re-enter, depending on other factors.
If logical exit would be 21.70, the total reported would be 1.70-0.05.

In the second case, assume that it breaks the 22 level and drops down, we will deduct the normal stoploss from the total.

Does that make sense?
 
LiL"C"
We understand that many people are new to this concept of trading as a profession. I was not referring to you specifically earlier about talking but not actually doing it but to the others who were spending too much time making claims to our services when they didn't try it. I couldn't fathom how they found the time to be posting the messages so fast in the forum when they claim they are trading.
 
The bottom line is this: Like a few of you have figured out that these types of calls are impossible to track and are really B/S. If any of you have ever daytraded just a few days in your entire lives you would know that a stock, when hitting an inflection point, where it breaks through a certain pivot that was old resistance or support, can do about a million things before it decides to move in the direction of the breakout. If you have a chatroom that says AMGN +57.80 when $57.80 is high of day and then at some point by 4pm AMGN happens to hit $59 or so, you CANNOT say that the trader would have automatically had the potential to make $1.20 in profit on that trade. First of all 50% of breakouts fail. That is statistically proven. Secondly as I was saying earlier, prices RARELY travel in straight path through resistance. There is always a lot of backing and filling. And you know who gets shaken out in all that chop.....? Newbies who have .05 or .10 stops. Thats who. I am not here to flame anyone, but honestly I hate shit like this because it makes daytrading seem easy and like everyone can do it. Nothing could be further from the truth. The type of stuff thats on that banner is exactly the type of pie in the sky advertising that fuels the fantasy that so many people are privy to. That they can make X thousand per day at home in front of their computer. They can, this is true, but you won't get there without years of dedication and experience. There is no free lunch on Wall Street...............
:mad:
 
That's fine and I wasn't really directing it to you it was aimed at DHOHHI the smuck. All I was trying to do was ask a few questions and get some info. I started with $200.00 just to see how the market works it's just change but I don't like to loose and it's not the money it's the loosing so I'm trying to see how far my 200 can take me that's all.
 
Quote from Shogun-Trader:



Does that make sense?
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Yes, thank you.

The reason that I asked, (if it wasn't obvious) is that some chatrooms would record this as a full win on the first trade ($2), and a small loss on the second trade (-$0.10). I wanted to give you the opportunity to show that this is something that you don't do when recording your results on your website.

PS, I still believe that the best way for you to get new clients from ET is to offer a free trial and let people decide if this is something worth paying a monthly charge for. You may get one or two people willing to take a chance and pay the first month without a trial. You will get 50+ people checking your room if you give a free trial.
 
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