averaging $2000 after only being with the firm for 3 months...especially in this crap market??? something about this guy makes it VERY hard to believe. this guy only seems to be bragging about his profits in each of his posts. never any insight into his trading. dunno, if he's the real deal, then good for him...he's definitely one of the "chosen" gifted few. but i have my doubts.
February Trading Journals
- Thread starter Hitman
- Start date
Magna
Administrator
Treykool,
I have to agree with you, I take each and every one of silk's posts with a huge grain of salt. Never once does he display trades, never once does he present strategy, never once does he show a losing day. Maybe what he says is true, who knows? Regardless, his self-aggrandizing posts are of little to no value to anyone else. I'm never quite sure why certain people here on this board feel the need to only post winning days???
I have to agree with you, I take each and every one of silk's posts with a huge grain of salt. Never once does he display trades, never once does he present strategy, never once does he show a losing day. Maybe what he says is true, who knows? Regardless, his self-aggrandizing posts are of little to no value to anyone else. I'm never quite sure why certain people here on this board feel the need to only post winning days???
Here are some insights into my trading. Some here have been critical of me for not giving descriptions of my trading.
I trade primarily home builders, oil service, and semis. Add to that list news stocks such as tyco last week and the utilities group. I think it has helped me to focus on a few sectors that have great volatitliy.
I like to trade stocks that move as a group. I.E. homebuilders. That way you get a clue as to what a stock is going to do next by what the others in the group are doing. Example, if you see a few homebuilders moving up with strength, jump on one that hasn't moved yet or is a few ticks behind the others. Or watch one that is being help back by a large offer and then jump in when you see that offer being taken out.
Some insights into my trading style is that i hold on to positions for along time. 30 minutes - 2 hours sometimes. I'm not the greatest tape reader yet as i've only been at this a few months. But what i am good at is letting my winners run (sometimes my losers too!
).
One mistake that i see other traders making is not having a good feal for the daily ranges of the stocks they trade. For example, if you are trading a stock with a 2 point daily range and you jump in at what you think may be an inflexion point in the stock. DON'T SELL FOR A 10 CENT PROFIT. You should be thinking 50 cents or more.
BTW, my and hitman's water cooler are about 1300 miles apart. We trade out of different offices.
I trade primarily home builders, oil service, and semis. Add to that list news stocks such as tyco last week and the utilities group. I think it has helped me to focus on a few sectors that have great volatitliy.
I like to trade stocks that move as a group. I.E. homebuilders. That way you get a clue as to what a stock is going to do next by what the others in the group are doing. Example, if you see a few homebuilders moving up with strength, jump on one that hasn't moved yet or is a few ticks behind the others. Or watch one that is being help back by a large offer and then jump in when you see that offer being taken out.
Some insights into my trading style is that i hold on to positions for along time. 30 minutes - 2 hours sometimes. I'm not the greatest tape reader yet as i've only been at this a few months. But what i am good at is letting my winners run (sometimes my losers too!
). One mistake that i see other traders making is not having a good feal for the daily ranges of the stocks they trade. For example, if you are trading a stock with a 2 point daily range and you jump in at what you think may be an inflexion point in the stock. DON'T SELL FOR A 10 CENT PROFIT. You should be thinking 50 cents or more.
BTW, my and hitman's water cooler are about 1300 miles apart. We trade out of different offices.
FYI, one day after silk had a big loss, he posted telling that he had a big loss (which happened after a big win or something like that). If I remeber correctly that was last Dec..
All:
Silk traded Nasdaq for a few years for a living before starting at Listed. His numbers are unquestionably top tier this year. With the possible exception of our 2000/2001 champion EC I think he had top numbers at the Florida branch.
Perhaps he was always meant to be a listed trader and only now he is unlocking his full potential. I have exchanged e-mails with him before and what he does is not totally unlike what I do, except the composure to hold 2000 shares for 1 point or 2 through a hour or two grind, that is something I just don't have yet.
Silk:
Congratulations, I wish I am trading with you
Silk traded Nasdaq for a few years for a living before starting at Listed. His numbers are unquestionably top tier this year. With the possible exception of our 2000/2001 champion EC I think he had top numbers at the Florida branch.
Perhaps he was always meant to be a listed trader and only now he is unlocking his full potential. I have exchanged e-mails with him before and what he does is not totally unlike what I do, except the composure to hold 2000 shares for 1 point or 2 through a hour or two grind, that is something I just don't have yet.
Silk:
Congratulations, I wish I am trading with you
for those who may think that silk doesn't give examples of his losses here are some below
"'m setting my goals high for 2002. I'm targeting $1200/day net. I believe this is possible if i'm able to do a better job of controling my losses. I had 2 days this month where i lost $5k. That isn't acceptable"
" lost $4700 gross, $5600 net. 5 times my previoius greatest loss at worldco"
You said " I joined Worldco 3 months ago by bringing in only 3,000 capital. I started with trading just 200 shares and worked my way up. My results should put to rest any question as to whether Worldco is a good company to work for. Where else can you bring in virtually no money and in just a few months be trading 3000 share positions and making a killing. "
Somethings still aren't clear though , you regularly advised hitman in previous threads to trade volatile stocks as that is what you do at home and that you have frequent day of making 1K - 2K , trading from home . If that is the case then why join worldco and why join with only 3K as if you have been trading for 3+ years and are profitable , surely you should be able to put down more than 3K as you will then pay less commisions than you were paying at worldco when you started 3 months ago.
You also said in another post in October that you are daytrading with a 20K account . Isn't that impossible as you need 25K minimum in your account to daytrade
"'m setting my goals high for 2002. I'm targeting $1200/day net. I believe this is possible if i'm able to do a better job of controling my losses. I had 2 days this month where i lost $5k. That isn't acceptable"
" lost $4700 gross, $5600 net. 5 times my previoius greatest loss at worldco"
You said " I joined Worldco 3 months ago by bringing in only 3,000 capital. I started with trading just 200 shares and worked my way up. My results should put to rest any question as to whether Worldco is a good company to work for. Where else can you bring in virtually no money and in just a few months be trading 3000 share positions and making a killing. "
Somethings still aren't clear though , you regularly advised hitman in previous threads to trade volatile stocks as that is what you do at home and that you have frequent day of making 1K - 2K , trading from home . If that is the case then why join worldco and why join with only 3K as if you have been trading for 3+ years and are profitable , surely you should be able to put down more than 3K as you will then pay less commisions than you were paying at worldco when you started 3 months ago.
You also said in another post in October that you are daytrading with a 20K account . Isn't that impossible as you need 25K minimum in your account to daytrade
Silk,
Please answer this quick question... what is the $ risk you are taking on your trades... i.e. how many $ loss is your pain threshold on a given trade...
Candle
Please answer this quick question... what is the $ risk you are taking on your trades... i.e. how many $ loss is your pain threshold on a given trade...
Candle
Once you become profitable, the commission/payout at Worldco smacks down every firm you can imagine. Walter will never ever let anyone outbid him.
As for why 3K, why not? He was about to trade a brand new market and changes can be very expensive for traders. Why risk more when you can risk less?
As for why 3K, why not? He was about to trade a brand new market and changes can be very expensive for traders. Why risk more when you can risk less?