gotta_trade's swing trades

EOD: Thursday, July 31, 2003




TODAY'S TRADES:

(now trades)




OPEN POSITIONS:

6/10/03......B......50 MTX @ 48.00........+ 1.95
7/18/03......B......200 MRD @ 27.10.......+ 1.61
7/25/03......B......200 NYB @ 30.50.........- .60





Unrealized P&L................................. + $297.00

Realized P&L...(as of 6/1/03)...............+ $3,027.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $3,324.00
 
Hi gotta_trade,

I have one more question. What is your limit for max. open positions , limit for max. setups for a day or have you such limits ?
 
EOD: Friday, August 1, 2003




TODAY'S TRADES:

Sold 50 MTX 49.50 (Last scale out for a profit of $1.50 per share)

Sold 100 MRD 28.50 (Scaled out of 100 shares for a profit of $1.40 per share)




OPEN POSITIONS:

7/18/03......B......100 MRD @ 27.10.......+ 1.35
7/25/03......B......200 NYB @ 30.50........- 1.63





Unrealized P&L................................. - $191.00

Realized P&L...(as of 6/1/03)...............+ $3,242.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $3,051.00
 
Quote from richk:

Hi gotta_trade,

I have one more question. What is your limit for max. open positions , limit for max. setups for a day or have you such limits ?
More...


Hello richk,

I don't have a maximum limit on the number of positions that I will hold at one time.

I just want to pick the best of the best trades, and if they trigger, I'll take the position.

But I also don't want to put myself in a dangerous position, so I'll use some judgement on the number of open positions that I'll have at one time.

Good trading,
gotta_trade
 
Quote from howardy2k:

have u thought about increasing ur size??
More...

howardy2k,

I copied and pasted some of my prior posts regarding your question:


--------------------------------------------------------------------------------------------------------

Yes, I have thought about it. But first I need to see if this method will hold it's own. So, for now, I'll play small size. If this method proves to be profitable, I won't hesitate to increase my position size.

I feel that it would be foolish for me to beef up my swingtrade position size at this stage. (I've only been swing trading for 2 months) If I was playing big size, fear and greed would get in the way, and I would surely lose.


My size is small while I experiment with this strategy. If this strategy proves to be profitable, I will SLOWLY increase the size of my trades. I won't even consider increasing the size unless I'm up at least $5,000.


My position size is basically:

500 shares for $10.00-$20.00 priced stocks
400 shares for $20.00-$30.00 priced stocks
300 shares for $30.00-$40.00 priced stocks
200 shares for $40.00-$50.00 priced stocks
100 shares for $50.00 and up priced stocks

My worst case scenario stop-loss is around $500 per trade.


If my P&L should increase above $5,000., I'll slowly increase my position size. I'll add 100 shares to my opening positions. Then if my P&L should increase to $7,500, I'll add another 100 shares, etc., etc.

I ask myself, "how would I feel if each and every open position was stopped out with the maximum loss?"...then I answer, "well, I'm okay with that." If I was trading larger size, I wouldn't be.


Good trading,
gotta_trade
 
What scanning platform are you using?

What combination of charting and quote feed platforms are you using for your swing trades?

Thanks.
 
EOD: Monday, August 4, 2003




TODAY'S TRADES:

Sold 200 NYB 28.39 (closed position for a loss of 2.11 per share)





OPEN POSITIONS:


7/18/03......B......200 MRD @ 27.10.......+ 1.41





Unrealized P&L................................. + $141.00

Realized P&L...(as of 6/1/03)...............+ $2,820.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,961.00
 
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