Making $5K with $20K each month

I got some $ back from YHOO, reduce my YHOO loss to $300s. My intraday trading size on YHOO is only 300 shares, so the gains are not big per trade, have to wait for bigger swings. I think I am done for the week. Don't want to make another mistake like last night. Still hold 3500 SCEY.

Have a great weekend!

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With this big drop at the end of the day on DNDN, I bought back one $20 call at $5.3, very small gamble - $530. I also added 1K more SCEY, I'll sell this 1K SCEY at the end of the day. Covered 300 YHOO short, the YHOO loss is almost gone. Not a bad day consider a rocky start and the tough loss last night, now I'm getting over it, I'll enjoy the weekend, same to you guys!

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PT, just let you know that I found out this site and your journal last night and spent 5 hours reading through.

Keep the posting coming, I am one of, I am positive, many, that are lurking and enjoying reading your postings.

Great work! Happy for you. I learned a lot, even though I have been trading for many years, you are much better!

A question, how much does the ensign chart and data feed cost per month?
Thanks
 
I'm no experienced daytrader, I play more on the investment end until I am ready to, but I make $2500-$3500 per week just following a daytrader in a forum.

I will learn to do this on my own, but I have no complaints with following someone.


michele
 
Quote from myminitrading:

YOU CAN IF YOU THINK YOU CAN!!!!!


Always remember that, and never give up. All you need to do is make $250.00 a day. Thats your goal no find out how to reach that goal.

Dont listen to the negative nay sayers here. Trading is a business run it like one.

The market has been very forgiving here lately, buying dips in a rising market is one of the safest trades. Be on guard though this rally over the last 9 months is very shaky and may crumble under your feet at any moment so use risk management always.

Stay focused on your goal, take losses and smile no matter what. Keep a proper attitude and always think positive thoughts.

Good Luck!
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Setting a goal like 250 per day is a fast way to go broke. you set yourself up for blowing your account right away when you set this kind of daily dollar gain or else type mentality.
 
Quote from sbs17:

TJMXXX,

I'm curious, because I don't think I can do it. How would you scalp 15 cents off of aapl everyday?
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no way to scalp a guaranteed 15 cents off apple everyday or soccer moms would do this for extra money.
 
yc47ib, thanks for stopping by.

Ensign is $39.95/month, and I use Esignal for data feed, Esignal costs $100/month. If you have an IB account, you can use free IB datafeed. I've closed my IB account long time ago. Maybe when I get more capital, I will open an IB account again, I've some issues with Esignal data feed. For example, when YHOO tanked hard around 3:00 PM Friday, Ensign hanged and stopped working, I've to kill it from the Task Manager. I lost a lot of good trading opportunities when it happens - esp on very fast moving stocks with rapid tick changes. Some ET folks said it was Esignal issue, not Ensign.

The trading is nothing but a game. If one wants to win the game, plan ahead and get good tools are essential to win. In fact, trading is not a painful thing, I treat it as a tennis or golf match. Some folks hate the colors on my charts, guess what, trading is an art, it is fun thing to do, the chart is just a piece of art work.

Ensign is a very nice tool, esp the simulation part is great to test your setup. I made three day trading simulations with 4x speed on NQ today.


Quote from yc47ib:

PT, just let you know that I found out this site and your journal last night and spent 5 hours reading through.

Keep the posting coming, I am one of, I am positive, many, that are lurking and enjoying reading your postings.

Great work! Happy for you. I learned a lot, even though I have been trading for many years, you are much better!

A question, how much does the ensign chart and data feed cost per month?
Thanks
More...
 
I post whatever I trade or thought on this journal, I do share what I know. My purpose is simple - I am trying to get better and sharper each day, everyday there is a new game.

Of course, if this journal can help someone else, I feel even better and am willing to do more, just don't follow the mistakes I made :-)

Per ET rule, I don't post or discuss any stocks under $5 or with less than 1 million volume. For example, I had TEXG in my holding a few days ago, you could see it in my gain/loss list, I didn't say a word because it had less than 1 million shares traded and the price was under $1, TEXG went up over 85% on Friday with 912K volume and finished at $2.5, a little shy of one million shares - so I don't bother to discuss it. Also, one important rule, I don't chase stocks unless it is an intraday quick scalp, if I miss a run on a stock, I don't regret, there are thousands of other stocks and more opportunities to come.


Quote from yc47ib:

do u mind sharing the forum and daytrader information?
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