Making $5K with $20K each month

otcstockfund,

Great job!

You're right, in fact, the nosayers make me feel very good, I feel someone trades worse than me in the market :0-)


Yes, I know what you mean. My goal is to make $5K first each month, then my pressure is off. When the capital is tight, have to meet the important goal first before maximizing profits. I usually sell 1/2 position with a profit at the resistence, then ride the rest of the positions with a longer timeframe for a breakout, it could take a while to reach the resistence, a lot of patience. CPSL is an example, on my own account, I sold it right at the open and didn't buy back. On my friend's account, I've a sell of 1/2 position at the resistence (I think it is around $5.50), so right now zero shares have sold, but he is up nicely in a day :-)


My friend's 1K CPSL at Etrade:


Quote from otcstockfund:

i see wrong with your approach is setting goals on what to make, gotta take whatever the mkt will give you and not force trades to make a quota
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I didn't trade CHTR, I didn't get 1K ARBA in my friend's account. I think ARBA is heading to my price target.


Quote from gaj:

nice trading! interestingly enough, i went in CHTR short for an intraday trade. i'll be adding more to it in a little later this am unless it crashes. maybe it makes money, maybe it doesn't, but i'll see how it plays out.
.
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Thanks Jimmy!

Quote from jimmygold:

SWEET !!! Made your whole week in one day. Takes the pressure off wouldn't you
say :)

Keep up the good work, we all know you can do it !!! :cool:
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sunggong, thanks! Looks like AQNT iand CPSL are the stocks of the day.


Quote from sunggong:

Great start, man!

Ignore pessimists on this board. I bet they are still struggling to make a few hundred right now. :)

Like I posted earlier in this thread,

"One man's dream is another man's reality."

Best of luck!
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Just out 1/2 CPSL on my friend's account at 5.30s, locked in some profits for him. 5.30 is not too far from today's resistence. Will ride rest of CPSL for the remaining of the day or to tomorrow - depends on how strong it finishes.
 

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Quote from PennyTrader:

pairsarb,

You know what, sometimes I wish I didn't quit my job :-) When I had a regular job, I was trading emotion free and not worried to take out $$ out of the account to pay bills, I was an IT security guy, the only guy in the company has mutiple montiors on my desk.

Right now, this trading is the job, I do enjoy the freedom to trade from home and take care of the boys to school. But I also have more responbility. I've to take the $ out of the table immediately when I see it, with limited capital, I've to keep the account as liquid as possible, I cannot hold any bags or make long swing trades, means I could miss some big gainers, but I keep small gains. I treat the stocks I bought as perishable goods, have to get ride of it before getting bad :-) In the future, when I've enough capital, I'll divide some to short-term/swing trades.
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Thanks Penny. What I found in doing both for a living is one sufferes, or other areas of life kind of get sidelined. But while I believe we can have nearly anything we want, it's certainly clear to me we cannot have everything we want. This tapering comes at the best time, taxes, I also am treasurer for a non-profit, and I have have a past year return audited at the end of april.

I look forward to having more time to trade. And actulaly from my posts I really need less time to trade to make more money. But i want time to handle the other things that I have only been able to keep up in mylife, not improve. I am improving my personal organizing in order to handle what I am doing.

Good luck with your trading career as you manage the trades and the bills. It's real life.
 
Sbs,

I bought CPSL on Friday, in fact, if someones read one of my posts this weekend, I listed my daily gains for the last week, look at Day 4, it had this link, you should see my CPSL position in there:

http://i10.tinypic.com/2sadklw.jpg

AQNT is the most active one in premarket, I didn't trade in premarket because of kids around, I did watch it. I shorted AQNT a few minutes after the open and then went long at $41, made two trades on AQNT in 10-15 minutes..


I posted my comments on CPSL on another website Friday (before I've this board).

Posted by: Penny_Trader
In reply to: Cezzer79 who wrote msg# 904 Date:4/13/2007 4:13:31 PM
Post #of 914

Cezzer, I took a starting position on CPSL at 4.30, looking for $5.50 area as the 1st target. I liked to play bottom bouncers, but bottom fishing is no longer I do these days because of the type of market we're in. I like to buy/hold stocks with uptrend. Today is the 1st day CPSL actually showed a sign of life, the big seller is still there whacked all the bids, but it might be bottomed, it holds very well. I expect the stock goes green again in the next couple trading days, if not, I've my stops, should have little to lose, CPSL chart:

http://charts.dacharts.com/2007-04-13/smallcaptrading_19.png


Quote from sbs17:

PennyTrader:

Did you enter AQNT and CPSL premarket?
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