Crystal ball says support at $18.50
GrowleyMonster's Sorta Journal
- Thread starter GrowleyMonster
- Start date
To the moon, Alice.
Stoopid crystal ball. I think I will fire up the TWS and short this thing hard.
Hang on, Alice. Pack your moon bag.
Covered my shorts, buck a share. All time new low! Going long now.
No fun today. I'm out. Meh.
Okay my deposit finally cleared the bank, now I have transferred $40,021 to my $10k account for a total of $50k. Well, actually it was standing at $9979. When I got locked out by PDT, I was at $9920-something. I don't know how more money got into my account. This happened one other time. Not much, first time it was like $20 and this time it was about $50, but I don't know where it came from, so that is a real mystery. Hey, one more mystery deposit and I will be back over my initial deposit! Well now I will be starting fresh with 50 big ones. I should have done this some time ago. I could have sold the big boat and just kept the little one, but I wanted to sell the little one and keep the big one. Anyway now I have it from another source and all my debt is paid off. Sweet.
Turns out I could have reset my PDT status the very same day I locked myself out. I read the email about the free amnesty reset, and went to the IB account management site, and I saw the requirements. One of which is I had to acknowledge that I do not intend to use any day trading strategies. More or less word for word. After talking to a few people apparently it is very common to just say sure, gimme my reset, I won't be a day trader, honest! And then get the more or less automatic reset and day trade anyhow. However there are a couple of gotchas there. First of all, the usual warning is then disabled. No more will the trader be reminded that another trade puts them into PDT category, and no more will that 4th day trade be prevented. You are on your own. And this time it is 180 days in the cooler. You are allowed ONE reset every 180 days. So if you request the reset, you will get it. But you are given a little more rope to hang yourself with. Or at least trip yourself up with.
Now that I have initiated the transfer of funds into my account, IB says it will take two days for the transfer. AND another 4 days for funds to "settle". I keep hearing about this "settling", especially regarding cash accounts. Why? Who is unsettling the money? I didn't know it had feelings. Sorry money, didn't mean to shake you up. Calm down, niiiiiiiiice money, take it easy there... <pets the money and scratches its widdle noggin behind its widdle baby earsy-wearsies> I don't get it. Why make things harder, instead of easier? Hey, that's okay. I will be good to go soon enough. Meanwhile I still have plenty of stuff to do. Tomorrow I have to keg my latest batch of beer. I was going to bottle but if I keg it I can drink it the next day. If I bottle it I have to keg it and carbonate it first, or else prime it so it goes through secondary fermentation in the bottle, (for natural carbonation) and wait 3 weeks or so before I can drink it. So bottle it naturally and deal with yeast sediment in the bottom of the bottle and not drink it for 3 weeks, or keg it and then bottle it and start drinking it in a day or two, or keg it and not bottle it, and drink it the next day. So, hey I think I will keg it and carbonate it tomorrow, drink the first glass the day after. Got plenty other stuff to do, too. Being retired is an awful lot of work. The only good thing is you get to drink beer while you do it, and you can tell anybody you want, pretty much, to go and perform a physically impossible sex act upon himself, with no repercussions. But I got so much stuff to do. I hope I can find time for trading.
Turns out I could have reset my PDT status the very same day I locked myself out. I read the email about the free amnesty reset, and went to the IB account management site, and I saw the requirements. One of which is I had to acknowledge that I do not intend to use any day trading strategies. More or less word for word. After talking to a few people apparently it is very common to just say sure, gimme my reset, I won't be a day trader, honest! And then get the more or less automatic reset and day trade anyhow. However there are a couple of gotchas there. First of all, the usual warning is then disabled. No more will the trader be reminded that another trade puts them into PDT category, and no more will that 4th day trade be prevented. You are on your own. And this time it is 180 days in the cooler. You are allowed ONE reset every 180 days. So if you request the reset, you will get it. But you are given a little more rope to hang yourself with. Or at least trip yourself up with.
Now that I have initiated the transfer of funds into my account, IB says it will take two days for the transfer. AND another 4 days for funds to "settle". I keep hearing about this "settling", especially regarding cash accounts. Why? Who is unsettling the money? I didn't know it had feelings. Sorry money, didn't mean to shake you up. Calm down, niiiiiiiiice money, take it easy there... <pets the money and scratches its widdle noggin behind its widdle baby earsy-wearsies> I don't get it. Why make things harder, instead of easier? Hey, that's okay. I will be good to go soon enough. Meanwhile I still have plenty of stuff to do. Tomorrow I have to keg my latest batch of beer. I was going to bottle but if I keg it I can drink it the next day. If I bottle it I have to keg it and carbonate it first, or else prime it so it goes through secondary fermentation in the bottle, (for natural carbonation) and wait 3 weeks or so before I can drink it. So bottle it naturally and deal with yeast sediment in the bottom of the bottle and not drink it for 3 weeks, or keg it and then bottle it and start drinking it in a day or two, or keg it and not bottle it, and drink it the next day. So, hey I think I will keg it and carbonate it tomorrow, drink the first glass the day after. Got plenty other stuff to do, too. Being retired is an awful lot of work. The only good thing is you get to drink beer while you do it, and you can tell anybody you want, pretty much, to go and perform a physically impossible sex act upon himself, with no repercussions. But I got so much stuff to do. I hope I can find time for trading.
Growley...
...Trade small.
Right on. Thanks. I was going to start out with the same size positions I was using with the $10k account. I wanted to keep my balance, now that I am finding it. The only difference is I don't have to worry about do I trade and set the PDT clock back, or wait for an even better setup, or trade because it is "the day" to trade, or what. Now I just trade what looks like a good trade, and stop when I think I should stop, and trade again the next day if it looks good. That was really tripping me up, having my trades rationed. But all my positions were like $2k or less, some only a couple hundred, and that is where I am gonna stay for a while. It worked for me. I made my beginner losses but they were small. Tiny, in fact. And I turned it around and got my account back up, slow and steady. I survived. I just want to get some trades in right now, and keep surviving, not worry about how long it takes to double my account, stuff like that. If I post fairly steady profits I will be satisfied for now. It's sort of like shaving with a proper straight razor. If you are smart and have been taught well, you don't worry about getting BBS (Baby Butt Smooth) your first time at bat. You concentrate on simply survive the experience with no blood loss or setting your face on fire with your aftershave. Closeness comes in time. In day trading, I want to keep surviving the learning experience. Full time professional level earnings will come in time if I can just survive unscathed and keep up with the markets.
The time will come, I am sure, when I will be comfortable with putting all my $ in play when the situation calls for it. But not just now.
The time will come, I am sure, when I will be comfortable with putting all my $ in play when the situation calls for it. But not just now.
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