GoodPunk6's Trading Journal

GoodPunk6 · Mar 24, 2005

I had to come in a little late today because of prior engagements. I feel good and hopefully I'll have a good day.

Good Trading!

ecnlvr · Mar 24, 2005

Quote from roberk:

Nice long post. But you should have read where he pays commision based on number of executions, not share number.

He probably pays around $2 per execution, but there are still ecn, nasd, and sec fees. And those add up quickly, especially on 18000 share lots.

GoodPunk6 · Mar 24, 2005

Quote from ecnlvr:

He probably pays around $2 per execution, but there are still ecn, nasd, and sec fees. And those add up quickly, especially on 18000 share lots.

Let's be realistic. Both you and I know that sec fees and taf fees are puny. I've traded 380,000 shares in a day and have had $25 of tiny fees.

ang_99 · Mar 24, 2005

Quote from GoodPunk6:

Let's be realistic. Both you and I know that sec fees and taf fees are puny. I've traded 380,000 shares in a day and have had $25 of tiny fees.

Don't discount those fees, they add up to the cost of leasing a nice BMW. But good job on the journal, most people aren't willing to put themeselves out there like you.

trendo · Mar 24, 2005

GoodPunk,

Please answer my questions on page 60.

Also, what is the business model of the team concept? Specifically, how are you to be compensated for recruiting and leading a team?

thanks

GoodPunk6 · Mar 24, 2005

Quote from trendo:

GoodPunk,

I enjoy reading your journal. It's one of the few that I pay any attention to.

A few questions, please: What are two of the highest priced stocks you are allowed to trade?

You aren't charged commision on number of shares -- that's good. But it appears that each of your partial fills is considered an 'execution' Correct?

There's no price limit on the stocks that we can trade. Yes, partial fills are executions. So if I bid for 2000 and it takes 3 fills then that's three executions.

GoodPunk6 · Mar 24, 2005

Quote from trendo:

GoodPunk,

Please answer my questions on page 60.

Also, what is the business model of the team concept? Specifically, how are you to be compensated for recruiting and leading a team?

thanks

Well, as far the business model goes, basically it's just like a team. A successful group can negotiate better commissions, higher payouts, and better leverage.

Don't get me wrong, the trader is NOT paying me at all. The firm pays me a percentage of the traders net.

GoodPunk6 · Mar 24, 2005

Well,

I got my hands on a sony psp today. A very sexy device.

I made $90 and spent about $50 making it. Whatever....

I had 8 buy executions, 5 sell executions, and 99,930 shares traded.

Have a good weekend!

ecnlvr · Mar 25, 2005

Quote from GoodPunk6:

Let's be realistic. Both you and I know that sec fees and taf fees are puny. I've traded 380,000 shares in a day and have had $25 of tiny fees.

What about ecn fees?

GoodPunk6 · Mar 28, 2005

ECN fees are cheap.

So it's raining today. That sux. Today is one of those days I wish I had my own account with my own money. I didn't want to come out into the cold and pouring rain. I wish I could have stayed home and traded from there.

So here's the agenda for today. I'm going to trade passively and I WILL NOT pay the spread today. It seems as though I've been getting it handed to me when I pay the spread. If I miss a move because I couldn't get in then so what!! Be patient and the opportunity will present itself.

Good Trading!