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My dilemma - too good to be true? How long can I last?
- Thread starter cheetos
- Start date
sounds like an advertisement for ameritrade...let's see a screen shot for the last month statement
You have not mentioned, and nobody asked ... what size of an account are you talking about that you are making a few hundred to a couple Ks a day with? And, what % of capital are you using per trade? One cannot tell how well you are doing if the account amount is not known. I wouldn't be too impressed if you are playing with $50M and only make a few hundred a day (just an exagerated example).
"One cannot tell how well you are doing if the account amount is not known. I wouldn't be too impressed if you are playing with $50M and only make a few hundred a day (just an exagerated example)."
I started with $28000 (which gave me $3000 cushion above the daytrading minimum equity rule). I never went below that amount. I am up close to $20K now in 17 trading days.
I am not here to impress anyone except I was hoping there were others who had similar experiences. I just feel like I am really going against the tide here and I am very skeptical of how long I can last. I would feel better if there are others who had similar luck and were able to keep going. I mean I return over 66% of the capital in less than a month. Also, I do use anywhere from 60% to 95% of my daytrading power in any given trade. So I am only looking to pick up quick profits and exit fast if something is about to go wrong or hopefully before that.
One thing I did neglect to mention was that my style of trading is very labor intensive. I am glued to the screen w/o any distration for hrs at a time. I have to be because I have anywhere from 1500 shares (AAPL, SNDK, VLO, etc) to 4000 to 5000 shares (NITE, PLAY) trading at a time.
I think but I am not sure but last 3 days when I reached over $2000 really was helped by the extra money in my account. I was able to divide the trades in 2 chunks now that if the first batch don't go my way, I usually go in with a second batch and the second batch almost always makes money. This makes waiting for the first batch back to profit or close to breaking even lot easier. Knowing I booked the profit on the second batch really makes all the difference, at least psychologically.
I started with $28000 (which gave me $3000 cushion above the daytrading minimum equity rule). I never went below that amount. I am up close to $20K now in 17 trading days.
I am not here to impress anyone except I was hoping there were others who had similar experiences. I just feel like I am really going against the tide here and I am very skeptical of how long I can last. I would feel better if there are others who had similar luck and were able to keep going. I mean I return over 66% of the capital in less than a month. Also, I do use anywhere from 60% to 95% of my daytrading power in any given trade. So I am only looking to pick up quick profits and exit fast if something is about to go wrong or hopefully before that.
One thing I did neglect to mention was that my style of trading is very labor intensive. I am glued to the screen w/o any distration for hrs at a time. I have to be because I have anywhere from 1500 shares (AAPL, SNDK, VLO, etc) to 4000 to 5000 shares (NITE, PLAY) trading at a time.
I think but I am not sure but last 3 days when I reached over $2000 really was helped by the extra money in my account. I was able to divide the trades in 2 chunks now that if the first batch don't go my way, I usually go in with a second batch and the second batch almost always makes money. This makes waiting for the first batch back to profit or close to breaking even lot easier. Knowing I booked the profit on the second batch really makes all the difference, at least psychologically.
These are all my trades from yesterday. I was actually bit antsy and frustrated because I could not trade first 1/2 hr of the day because Ameritrade server was down. There were trades I could gotten into that would brought about $500 to $600 but just sat on my front of my computer. I actually took extra risk buying 100 SNDK calls to book 1/2 of yesterday's profit. Also, made a stupid miskake of shorting 700 shares HAL and letting it go against me (not the real stupid part) and shorting 1100 more at a higher price. Covered the 1100 with comission loss and when the first 700 short came back down I tried to cover but could not do it because I actually BOUGHT the shares.
04/21/2006 10:07:54 Bought 2000 PLAY @ 12.665 -25,337.00 $18,257.72
04/21/2006 10:07:54 Bought 3000 PLAY @ 12.70 -38,100.00 -$19,842.28
04/21/2006 10:13:50 Sold 3500 PLAY @ 12.75 44,616.63 $24,774.35
04/21/2006 10:13:50 Sold 1500 PLAY @ 12.752 19,127.41 $43,901.76
04/21/2006 10:24:41 Bought 40 SWFDL @ 0.60 -2,482.00 $39,419.76
04/21/2006 10:24:41 Bought 60 SWFDL @ 0.65 -3,900.00 $35,519.76
04/21/2006 10:26:36 Sold 1 SWFDL @ 0.70 62.24 $35,582.00
04/21/2006 10:34:41 Sold 99 SWFDL @ 0.75 7,343.52 $42,925.52
04/21/2006 10:40:48 Bought 1500 EBAY @ 35.00 -52,507.00 -$9,581.48
04/21/2006 10:41:54 Sold 1500 EBAY @ 35.0701 52,596.53 $43,015.05
04/21/2006 11:34:13 Bought 2000 PLAY @ 12.578 -25,163.00 $17,852.05
04/21/2006 11:36:04 Sold 1600 PLAY @ 12.632 20,210.57 $38,062.62
04/21/2006 11:36:04 Sold 400 PLAY @ 12.64 5,048.84 $43,111.46
04/21/2006 11:58:19 Bought 700 HAL @ 82.3499 -57,651.93 -$14,540.47
04/21/2006 12:05:44 Sold Short 1100 HAL @ 82.58 90,828.21 $76,287.74
04/21/2006 12:07:35 Bought to Cover 400 HAL @ 82.58 -33,039.00 $43,248.74
04/21/2006 12:07:35 Bought to Cover 700 HAL @ 82.59 -57,813.00 -$14,564.26
04/21/2006 12:22:48 Sold 700 HAL @ 82.36 57,643.23 $43,078.97
04/21/2006 12:58:02 Bought 1500 SNDK @ 60.52 -90,787.00 -$47,708.03
04/21/2006 12:58:40 Bought 1200 SNDK @ 60.444 -72,539.80 -$120,247.83
04/21/2006 13:15:21 Sold 2700 SNDK @ 60.466 163,246.18 $42,998.35
04/21/2006 13:22:33 Sold Short 100 VLO @ 69.43 6,935.78 $49,934.13
04/21/2006 13:22:33 Sold Short 1000 VLO @ 69.45 69,447.86 $119,381.99
04/21/2006 13:48:18 Sold Short 1100 VLO @ 69.63 76,583.64 $195,965.63
04/21/2006 14:04:10 Bought to Cover 900 VLO @ 69.50 -62,550.00 $133,415.63
04/21/2006 14:04:10 Bought to Cover 700 VLO @ 69.51 -48,664.00 $84,751.63
04/21/2006 14:04:10 Bought to Cover 600 VLO @ 69.52 -41,712.00 $43,039.63
04/21/2006 14:10:03 Bought 2000 PLAY @ 12.148 -24,303.00 $18,736.63
04/21/2006 14:12:02 Bought 2000 PLAY @ 12.08 -24,167.00 -$5,430.37
04/21/2006 14:14:07 Sold 1600 PLAY @ 12.242 19,586.59 $14,156.22
04/21/2006 14:14:07 Sold 2400 PLAY @ 12.25 29,392.09 $43,548.31
04/21/2006 14:47:27 Bought 900 WFMI @ 64.1099 -57,705.91 -$14,157.60
04/21/2006 14:47:27 Bought 100 WFMI @ 64.11 -6,411.00 -$20,568.60
04/21/2006 14:50:57 Bought 100 WFMI @ 63.85 -6,392.00 -$26,960.60
04/21/2006 14:50:57 Bought 90 WFMI @ 63.86 -5,747.40 -$32,708.00
04/21/2006 14:50:57 Bought 100 WFMI @ 63.87 -6,387.00 -$39,095.00
04/21/2006 14:50:57 Bought 600 WFMI @ 63.88 -38,328.00 -$77,423.00
04/21/2006 14:50:57 Bought 300 WFMI @ 63.90 -19,170.00 -$96,593.00
04/21/2006 14:50:57 Bought 230 WFMI @ 63.92 -14,701.60 -$111,294.60
04/21/2006 14:50:57 Bought 17 WFMI @ 63.95 -1,087.15 -$112,381.75
04/21/2006 14:50:57 Bought 63 WFMI @ 63.97 -4,030.11 -$116,411.86
04/21/2006 14:53:13 Sold 400 WFMI @ 64.05 25,619.21 -$90,792.65
04/21/2006 14:53:13 Sold 1100 WFMI @ 64.06 70,456.83 -$20,335.82
04/21/2006 15:18:30 Bought 300 WFMI @ 63.78 -19,141.00 -$39,476.82
04/21/2006 15:18:30 Bought 1200 WFMI @ 63.80 -76,560.00 -$116,036.82
04/21/2006 15:20:55 Sold 287 WFMI @ 63.86 18,327.25 -$97,709.57
04/21/2006 15:20:55 Sold 300 WFMI @ 63.87 19,160.41 -$78,549.16
04/21/2006 15:20:55 Sold 100 WFMI @ 63.88 6,387.80 -$72,161.36
04/21/2006 15:20:55 Sold 813 WFMI @ 63.89 51,933.97 -$20,227.39
04/21/2006 15:45:28 Sold 800 WFMI @ 63.91 51,126.43 $30,899.04
04/21/2006 15:45:28 Sold 200 WFMI @ 63.94
04/21/2006 10:07:54 Bought 2000 PLAY @ 12.665 -25,337.00 $18,257.72
04/21/2006 10:07:54 Bought 3000 PLAY @ 12.70 -38,100.00 -$19,842.28
04/21/2006 10:13:50 Sold 3500 PLAY @ 12.75 44,616.63 $24,774.35
04/21/2006 10:13:50 Sold 1500 PLAY @ 12.752 19,127.41 $43,901.76
04/21/2006 10:24:41 Bought 40 SWFDL @ 0.60 -2,482.00 $39,419.76
04/21/2006 10:24:41 Bought 60 SWFDL @ 0.65 -3,900.00 $35,519.76
04/21/2006 10:26:36 Sold 1 SWFDL @ 0.70 62.24 $35,582.00
04/21/2006 10:34:41 Sold 99 SWFDL @ 0.75 7,343.52 $42,925.52
04/21/2006 10:40:48 Bought 1500 EBAY @ 35.00 -52,507.00 -$9,581.48
04/21/2006 10:41:54 Sold 1500 EBAY @ 35.0701 52,596.53 $43,015.05
04/21/2006 11:34:13 Bought 2000 PLAY @ 12.578 -25,163.00 $17,852.05
04/21/2006 11:36:04 Sold 1600 PLAY @ 12.632 20,210.57 $38,062.62
04/21/2006 11:36:04 Sold 400 PLAY @ 12.64 5,048.84 $43,111.46
04/21/2006 11:58:19 Bought 700 HAL @ 82.3499 -57,651.93 -$14,540.47
04/21/2006 12:05:44 Sold Short 1100 HAL @ 82.58 90,828.21 $76,287.74
04/21/2006 12:07:35 Bought to Cover 400 HAL @ 82.58 -33,039.00 $43,248.74
04/21/2006 12:07:35 Bought to Cover 700 HAL @ 82.59 -57,813.00 -$14,564.26
04/21/2006 12:22:48 Sold 700 HAL @ 82.36 57,643.23 $43,078.97
04/21/2006 12:58:02 Bought 1500 SNDK @ 60.52 -90,787.00 -$47,708.03
04/21/2006 12:58:40 Bought 1200 SNDK @ 60.444 -72,539.80 -$120,247.83
04/21/2006 13:15:21 Sold 2700 SNDK @ 60.466 163,246.18 $42,998.35
04/21/2006 13:22:33 Sold Short 100 VLO @ 69.43 6,935.78 $49,934.13
04/21/2006 13:22:33 Sold Short 1000 VLO @ 69.45 69,447.86 $119,381.99
04/21/2006 13:48:18 Sold Short 1100 VLO @ 69.63 76,583.64 $195,965.63
04/21/2006 14:04:10 Bought to Cover 900 VLO @ 69.50 -62,550.00 $133,415.63
04/21/2006 14:04:10 Bought to Cover 700 VLO @ 69.51 -48,664.00 $84,751.63
04/21/2006 14:04:10 Bought to Cover 600 VLO @ 69.52 -41,712.00 $43,039.63
04/21/2006 14:10:03 Bought 2000 PLAY @ 12.148 -24,303.00 $18,736.63
04/21/2006 14:12:02 Bought 2000 PLAY @ 12.08 -24,167.00 -$5,430.37
04/21/2006 14:14:07 Sold 1600 PLAY @ 12.242 19,586.59 $14,156.22
04/21/2006 14:14:07 Sold 2400 PLAY @ 12.25 29,392.09 $43,548.31
04/21/2006 14:47:27 Bought 900 WFMI @ 64.1099 -57,705.91 -$14,157.60
04/21/2006 14:47:27 Bought 100 WFMI @ 64.11 -6,411.00 -$20,568.60
04/21/2006 14:50:57 Bought 100 WFMI @ 63.85 -6,392.00 -$26,960.60
04/21/2006 14:50:57 Bought 90 WFMI @ 63.86 -5,747.40 -$32,708.00
04/21/2006 14:50:57 Bought 100 WFMI @ 63.87 -6,387.00 -$39,095.00
04/21/2006 14:50:57 Bought 600 WFMI @ 63.88 -38,328.00 -$77,423.00
04/21/2006 14:50:57 Bought 300 WFMI @ 63.90 -19,170.00 -$96,593.00
04/21/2006 14:50:57 Bought 230 WFMI @ 63.92 -14,701.60 -$111,294.60
04/21/2006 14:50:57 Bought 17 WFMI @ 63.95 -1,087.15 -$112,381.75
04/21/2006 14:50:57 Bought 63 WFMI @ 63.97 -4,030.11 -$116,411.86
04/21/2006 14:53:13 Sold 400 WFMI @ 64.05 25,619.21 -$90,792.65
04/21/2006 14:53:13 Sold 1100 WFMI @ 64.06 70,456.83 -$20,335.82
04/21/2006 15:18:30 Bought 300 WFMI @ 63.78 -19,141.00 -$39,476.82
04/21/2006 15:18:30 Bought 1200 WFMI @ 63.80 -76,560.00 -$116,036.82
04/21/2006 15:20:55 Sold 287 WFMI @ 63.86 18,327.25 -$97,709.57
04/21/2006 15:20:55 Sold 300 WFMI @ 63.87 19,160.41 -$78,549.16
04/21/2006 15:20:55 Sold 100 WFMI @ 63.88 6,387.80 -$72,161.36
04/21/2006 15:20:55 Sold 813 WFMI @ 63.89 51,933.97 -$20,227.39
04/21/2006 15:45:28 Sold 800 WFMI @ 63.91 51,126.43 $30,899.04
04/21/2006 15:45:28 Sold 200 WFMI @ 63.94
To take an extra risk is something I wouldn't do. It seems that you are kind of tight to prove yourself with the winning streak.
Anyway, you still did a good job yesterday. good luck.
Anyway, you still did a good job yesterday. good luck.
i have traded sucessfully for 14 years. i still wonder if its based on luck, skill or whatever, thats the reason why physcology is such an important thing to master in this profession. You are right in that some days you think that its too good to be true, as there will be other days when you wonder what the hell you have to do to make money.
the other thing i would say is that its generally easy to make money in this game, the hard thing is hanging onto it and dealing with the inevitable losses at some stage.
good luck in the future
the other thing i would say is that its generally easy to make money in this game, the hard thing is hanging onto it and dealing with the inevitable losses at some stage.
good luck in the future
sitting in front of a screen all day, doing 20-30 trades is too stressful for me. Not to mention too much damn work. But then again, I'm not an intra-day trader.
I come up with a few ideas and start buying small.....if they continue to work out I keep adding to the positions. At the end i'm happy holding profitable 5k-15k share blocks and not needing to seee every single tick.
all I can tell you is that it won't last forever. Enjoy.
I come up with a few ideas and start buying small.....if they continue to work out I keep adding to the positions. At the end i'm happy holding profitable 5k-15k share blocks and not needing to seee every single tick.
all I can tell you is that it won't last forever. Enjoy.
funny i don't see any order id's, message fills, routes, trader id, etc. - looks like a paper trade program...
Guess what, it has not stopped. Its incredible. Now, I only make about 6 to 10 trades per day and come out at least $1500 per day. No more going in for few pennies anymore. I realized I miss the bigger boat during the scalp trades. So I wait little longer and trade less and so much less stress. Its tempting to make a hundread dollars for few secs work but it really wears my body and mind down. Today was biggest day so far. Already up over $3000. Now, I just wait for the big opps and really pounce on it. Waited for the shorts to get fried on CTSH and bought 100 puts when MMs took the stock really high. A funny thing is the options MM who sold me the puts was scarmbling to get it back. Because the options don't trade much on this stock, I don't think he thought anybody would take his bluff and buy 100 puts.
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 300 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 300 GRMN Market 95.11 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.18 -- -- 10:12:45 05/03/06
Filled Buy 1000 GRMN Market 94.7199 -- -- 10:10:00 05/03/06
Filled Sell to Close 23 +UPUQN Limit 2.35 -- -- 09:47:17 05/03/06
Filled Sell to Close 22 +UPUQN Limit 2.35 -- -- 09:47:09 05/03/06
Filled Sell to Close 55 +UPUQN Limit 2.35 -- -- 09:47:09 05/03/06
Filled Buy to Open 100 +UPUQN Limit 2.05 -- -- 09:42:00 05/03/06
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 300 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.06 -- -- 10:12:47 05/03/06
Filled Sell 300 GRMN Market 95.11 -- -- 10:12:47 05/03/06
Filled Sell 100 GRMN Market 95.18 -- -- 10:12:45 05/03/06
Filled Buy 1000 GRMN Market 94.7199 -- -- 10:10:00 05/03/06
Filled Sell to Close 23 +UPUQN Limit 2.35 -- -- 09:47:17 05/03/06
Filled Sell to Close 22 +UPUQN Limit 2.35 -- -- 09:47:09 05/03/06
Filled Sell to Close 55 +UPUQN Limit 2.35 -- -- 09:47:09 05/03/06
Filled Buy to Open 100 +UPUQN Limit 2.05 -- -- 09:42:00 05/03/06