Investing $15K to earn 3% per week

Will PT achieve his goal of 3% per week using $15k of starting capital?

  • Yes. 3% per week is definitely doable.

    Votes: 30 47.6%

  • Not a chance. He's nuts and doesn't know anything about trading.

    Votes: 33 52.4%
  • Total voters
    63
  • Poll closed .
Well, I cracked today and bungled my first trade. Don't know why I was so eager to pull the trigger. I got stopped out at -10.

I made a second trade during the mid-day session and picked up +10 and +45. In hindsight, this was no doubt a revenge trade. I should have waited until the afternoon session where a nice trade setup occured with a retracement to the R1 pivot (light blue dashed line). That was a better setup than the one I took at mid-day because there was more up volume (I have a chart on another monitor that shows the diff between up and down volume of all NYSE issues) during that move.

Folks, I was lucky the market was in trend mode today. Had the market chopped around then my impatience would have certainly anhilated this weeks gains.
 

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A nice week of profits. I still have a ways to go before "bumping" up my position size to 3 contracts.

Existing home sales come out on monday and I expect hawkish FOMC minutes on tuesday.

Should make for an interesting week ;-)
 

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Guys,

Let's keep it friendly. Recent personal attacks have either been edited or removed. Everybody's working hard, everybody's trying to learn or help out, let's please stay civil and professional. Thanks.

Magna
 
Quote from Magna:

Guys,

Let's keep it friendly. Recent personal attacks have either been edited or removed. Everybody's working hard, everybody's trying to learn or help out, let's please stay civil and professional. Thanks.

Magna
More...

Roger that LOL

I have a hard time ignoring ankle biters who tell me i am full of shit. That guy never PM'ed me either so i could set him straight. Oh well, another punk mouthing off about his narrow minded views.

You are correct Mag, i came on waay too strong. LMAO

Cheers :)
 
Quote from Magna:

Guys,

Let's keep it friendly. Recent personal attacks have either been edited or removed. Everybody's working hard, everybody's trying to learn or help out, let's please stay civil and professional. Thanks.

Magna
More...

Magna,

I applaud the move. The OP is being respectful and random insults have no place in this journal.

Anek
 
Hey folks,

No trades today. Price did open above the Pivot and held nicely after the housing news, however, it just meandered around until the lunch session.

A couple of tests of Friday's high occurred in the pm, but, it looks like she chopped her way back to the pivot.

Lookes like a trendline break strategy could have grabbed a few points today?

We'll see what tomorrow brings. Probably more of the same with FOMC minutes comming out.
 

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Quote from Magna:

Guys,

Let's keep it friendly. Recent personal attacks have either been edited or removed. Everybody's working hard, everybody's trying to learn or help out, let's please stay civil and professional. Thanks.

Magna
More...

Tx Magna!
 
Ok folks,

It doesn't get any better than this! Bearish opening well below the pivot, previous day close, and following a narrow trading day.

Also, I was expecting hawkish FOMC minutes so....go short on retracement.

Went short on second bounce off of S2 and set my stop loss on the 2nd contract at entry - 10 (+10pts) going into the lunch session.

+10
+185

It will be interesting to see if the market tests its recent lows this week or consolidates in this area. Weekly S2 pivot is around 12890; 50% fib retracement of recent up move on the daily comes in around 12994; 233 EMA on daily is around 12970
 

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10:30am:
Pretty tight opening range. Price gapped up just below the pivot. I'm waiting to see how pice behaves around the pivot and the gap fill (if it occurs). Yest Low is around the gap fill so it should provide some support.
 
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