Making $5K with $20K each month

[pairsarb]

Quote from saxon22:

What I find interesting is that, on one hand according to those who "know", there thousand way of making $$$$ trading the markets. However, the minute somebody comes up with an idea a different angle, many (not all) Et'ers automatically disregard and ridicule the poster. It is illogical at best.

Just as there can be many, perhaps infinite number of ways to solve the same math problem, there are likely an infinite number of methods to make money in markets. In that the methods are all different but share something in common. Further, while all methods can vary, I believe there are similarities in the way that good traders learn how to take money out of the market and minimize losses. At least that's what I am betting.

 

[sbs17]

PennyTrader:

Thanks for the detailed reply. Looking at your approximate entries and exits really helps me learn the most from what you are doing.

Sbs

 

[sbs17]

PennyTrader:

Thanks for the detailed reply. Looking at your approximate entries and exits really helps me learn the most from what you are doing.

Sbs

 

[PennyTrader]

Done for the day $500 goal is reached before 9:40 AM...

 

[PennyTrader]

Sbs,

The opening minutes are the most easily time to trade, IMHO. In the first 5-10 minutes, the stock is trying to establish the resistence/support - or a trading range. When the trading range is established, bottom is tested (clear double bottom), get in and ride for a while - usuaully for 3-5 candlesticks on the 5 minutes chart.

If the stock gapped down or up less than 1-2%, it is most likely the gap will be filled immediately. Of course, I look at the hourly/15 minutes and other charts and feel it is near the bottom or the top before 4:00 PM. Without great news, few runaway gaps, most of these gaps will be filled during the day.

Quote from sbs17:

PennyTrader:

Thanks for the detailed reply. Looking at your approximate entries and exits really helps me learn the most from what you are doing.

Sbs

 

[PennyTrader]

DNDN - some amazing swings:

A sell at R2 (no shares to short unfortnately, buy puts only) with R1 to yesterday's close as the price target:

http://charts.dacharts.com/2007-04-17/smallcaptrading_75.png


http://charts.dacharts.com/2007-04-17/smallcaptrading_79.png

http://charts.dacharts.com/2007-04-17/smallcaptrading_80.png

 

[PennyTrader]

YHOO earnings tonight, could make $3 swing. Bought some April $32.5 straddles - call $0.70, put $1.10

 

[fusionz]

Quote from PennyTrader:

YHOO earnings tonight, could make $3 swing. Bought some April $32.5 straddles - call $0.70, put $1.10

how successful have you been with straddles, I usually don't find that many good risk-reward opportunities with these?

 

[PennyTrader]

Paitence pays. It took over 3 hours for DNDN to reach the price target:

http://charts.dacharts.com/2007-04-17/smallcaptrading_84.png

Quote from PennyTrader:

DNDN - some amazing swings:

A sell at R2 (no shares to short unfortnately, buy puts only) with R1 to yesterday's close as the price target:

http://charts.dacharts.com/2007-04-17/smallcaptrading_75.png


http://charts.dacharts.com/2007-04-17/smallcaptrading_79.png

http://charts.dacharts.com/2007-04-17/smallcaptrading_80.png

 

[PennyTrader]

Some stocks are very senstitive to earnings, YHOO has been acting like that. I think YHOO could swing up or down $2.5 + tomorrow. I played YHOO straddle/earnings many times, the key strategy is, if it gaps down open, sell the puts right away.

The combined cost for the straddle is at $1.85, I think YHOO has a good chance to go to $29 or $35.

Quote from fusionz:

how successful have you been with straddles, I usually don't find that many good risk-reward opportunities with these?