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RRY16 said:
#10 should only be used in a bar a half hr before closing not in trading....10-50 shares?
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I scale up into as many as several hundred shares, though rarely. I made 9k in 4--5 weeks with most positions less than 50 shares.

Lots of small positions and sub $40 stops. I much prefer to make $1000 in a day with 20 x $50 wins, and tiny stops/ breakevens than swing for the fences and blow up, which I used to do.

That's the most valuable tip I can share.
 
vincentnyc said:
Can you let me know where you put your stop loss for some of your tickers like tvix, sdow, spxs, sqqq, jdst, and soxs? I traded between spxl and spxs all day today. I was up over $120 at point during the day and then made one bad move and gave some back and ended up with $34 for the day.
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Sure. Today was choppy as fck til end of day, not worth daytrading. Btw "in" days like today suck, and fwiw often mondays (except recently) fridays are low volatility.

Btw great job on making Anything today, the whole morning was tough and choppy af .. kudos

My goal today was to build swing positions for weekend hold. So I bought premkt, skipped the morning altogether, and added into the closing dip, right before the eod run.

My stops on swings are always to scale out just under prior days low. Daytrading stops usually 40cents, depending on instrument eg spxs for wide range tvix sdow I use several points
 
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Stocktracker said:
Emmett said " Hi " Ken :sneaky:
https://www.tradingschools.org/reviews/day-trading-university/
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Yeah I like Emmett, we talked on the phone, in his review he said I'm one of only 5 educators he found with proof I really trade. Love his site

#1 complaint for years my traders had is I kept bashing my bs competitors bc they have zero proof they really trade. Thx to Emmett I stopped that, he does a great job of exposing bs educators which most are
 
Clubber Lang said:
Hey Ken,
Not starting a war here, but $793 isn’t exactly a number to pound your chest about. Especially after 21 years in the biz.

You mentioned numerous times you were up 8k for the month, so now it’s 9...
Let’s call it 10k.
In volatility like this you should be printing cash. I don’t understand what’s the point of starting a thread like this with those numbers?

Like I said, not looking for a war, just not getting the point.

Glad you’re having a personally stellar month though. Congrats.
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Wow. I couldn’t have been more polite and sincerely happy you’re having a good month.
I just asked a couple questions.
No hating or flaming.

Good luck to all.
 
MattZ said:
The approach of "printing cash" even figurately speaking, is not a professional approach. I think you missed the point, because the size of the trades was reasonable to the risk and reward.

At times like this when the markets have erased most people's IRA and 401K, even the pros should reduce size.

This is my opinion: There is healthy volatility that traders could potentially operate in. What we experienced in the last month was unprecedented, and when the VIX is at the levels that it is at, whoever is reducing the size of their trades is doing the right thing. Period.
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Of course you have to size down. The only way you can get size in this volatility is when you’re getting run over.
That being said, almost every trader I know had their best years in 2000 and 2008, and are slaughtering March.
So sizing down doesn’t mean making less.
 
fan27 said:
Relax Ken. @Clubber Lang's post was hardly "venomous" and he does bring up some valid points. Volatility aside, by your own admission in your journal you have issues with putting on size in your relation to your capital and experience. I think the treatment you have received on this site has been very fair.
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Agree, point taken... the main reason I'm here as sponsor is not to sell stuff, I'm at near record high subscribers, it's to publicly pressure myself to trade larger size, so comments like clubbers are exactly what I need to hear
 
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