October Trading Journals
- Thread starter Hitman
- Start date
Hey Hoser,
It's not a matter of getting it or not. I know what Hitman is doing; I'm doing the same thing. I've tried many different strategies and have narrowed down what works for me and what doesn't. He will discover what works for him. Finding a strategy that works well is half the battle. Once you do that the ultimate goal is to up the trade size. So in uptick's example of only trading 200 shares, so what. When he can (he may be able to now, who knows), he can up the size within acceptable risk parameters. It all depends on how much capital you have access to. His trade would have been just as easy with 5,000 shares. When you think about it, when you're looking for bigger moves it's not much more difficult to deal with 5,000 shares as opposed to 200. The reason for this is that one can scale into the position as it moves in your favor, and out of it as it approaches targets. The bigger the move you're looking for the easier it is to trade big size.
It's not a matter of getting it or not. I know what Hitman is doing; I'm doing the same thing. I've tried many different strategies and have narrowed down what works for me and what doesn't. He will discover what works for him. Finding a strategy that works well is half the battle. Once you do that the ultimate goal is to up the trade size. So in uptick's example of only trading 200 shares, so what. When he can (he may be able to now, who knows), he can up the size within acceptable risk parameters. It all depends on how much capital you have access to. His trade would have been just as easy with 5,000 shares. When you think about it, when you're looking for bigger moves it's not much more difficult to deal with 5,000 shares as opposed to 200. The reason for this is that one can scale into the position as it moves in your favor, and out of it as it approaches targets. The bigger the move you're looking for the easier it is to trade big size.
oh no!
de javu again!
Did someone else brought this issue into Hitman's journals about NVDA trade awhile ago.
de javu again!
Did someone else brought this issue into Hitman's journals about NVDA trade awhile ago.
Hitman does NOT trade NAS for THIS very reason sally!
He says it all in his posts dd.
Trading 10k is no different than trading 200 shares if you are trading a large cap stock. He could have shorted 10k shares of QLGC at $37 just as easy as he shorted 200. Perhaps the fill would have knocked the bid down a nickel. Who cares, the stock fell $6 from the open.
This is a summary of my trading today. At the open I shorted 1000 shares of EMLX at $23.27 (EMLX opened way up with the futures even though EMC had a dismal earnings report. I thought that EMC could drag other storage stocks down). I covered EMLX 35 minutes later at $22.17. I reshorted 1000 shares of EMLX at 22.40, and covered at 21.80.
I only made 2 round trips all day and made $1700 net $1652 after commissions. This was on just $12k capital margined 2-1.
Some people might be able to make 20 trades a day and make money. But most will not be able to cover commissions.
In my opinion, big money is made by catching big moves. Anyone who correctly played todays market should have made a point or 2 on any tech stock. This is what trading is about. Figuring out where the next 5% move is going to be in a stock.
This is a summary of my trading today. At the open I shorted 1000 shares of EMLX at $23.27 (EMLX opened way up with the futures even though EMC had a dismal earnings report. I thought that EMC could drag other storage stocks down). I covered EMLX 35 minutes later at $22.17. I reshorted 1000 shares of EMLX at 22.40, and covered at 21.80.
I only made 2 round trips all day and made $1700 net $1652 after commissions. This was on just $12k capital margined 2-1.
Some people might be able to make 20 trades a day and make money. But most will not be able to cover commissions.
In my opinion, big money is made by catching big moves. Anyone who correctly played todays market should have made a point or 2 on any tech stock. This is what trading is about. Figuring out where the next 5% move is going to be in a stock.
If you can successfully trade stocks for a profit. Then it makes sense that you should trade the most volatile stocks on the market. If you are good, why bother trying to trade GE. Why not trade QLGC or some other wacko tech stock that can give you a 20% daily range.
Others seem to agree with this notion. That is why JNPR did 47 million volume today.
Hitman, if you had shorted just 1000 JNPR today at the open you would have made $3k today. With just 1 trade you would have doubled what you have made for the entire month.
Those big fish trades are what i go after. Of course that requires correctly timing the market. But isn't that the name of the game?
Hitman, with your worldco trading limits, you could have made $10k easy today if you had played the market right. I'm not saying that you should have known what to do today. But this is just an example. There are huge fish out there waiting to be caught.
I don't understand just shooting for $.25 cent trades when you can make a quick $1 off of nasdaq stocks on the open.
Others seem to agree with this notion. That is why JNPR did 47 million volume today.
Hitman, if you had shorted just 1000 JNPR today at the open you would have made $3k today. With just 1 trade you would have doubled what you have made for the entire month.
Those big fish trades are what i go after. Of course that requires correctly timing the market. But isn't that the name of the game?
Hitman, with your worldco trading limits, you could have made $10k easy today if you had played the market right. I'm not saying that you should have known what to do today. But this is just an example. There are huge fish out there waiting to be caught.
I don't understand just shooting for $.25 cent trades when you can make a quick $1 off of nasdaq stocks on the open.
Way to go Silk! Nice day. That's what I'm working my way up to.
I had that QLGC and I was also short the QQQ's.
One question...where are you getting 2-1 on an acct that size?
I'm only getting 1-1 at TNT because of the new rules. They said I can have 2-1 but I'd have to call the orders in , and they'd have to be overnights.
What's with that? Call in orders?
Soon I'll be in a better capitalized position...and hopefully if Baron gets a chat room going we can all have a good old time making serious cash.
Trading to live, not living to trade.
I had that QLGC and I was also short the QQQ's.
One question...where are you getting 2-1 on an acct that size?
I'm only getting 1-1 at TNT because of the new rules. They said I can have 2-1 but I'd have to call the orders in , and they'd have to be overnights.
What's with that? Call in orders?
Soon I'll be in a better capitalized position...and hopefully if Baron gets a chat room going we can all have a good old time making serious cash.
Trading to live, not living to trade.
Doogie: What the he** does not trading Nas have to do with anything? So the S&P futures sold of over 30 points from the open.
The same thing can be accomplished with Listed stocks as well except usually with less volatility; less risk/less reward. Just take a look at some of the moves these NYSE stocks make and tell me there isn't money to be made.
The same thing can be accomplished with Listed stocks as well except usually with less volatility; less risk/less reward. Just take a look at some of the moves these NYSE stocks make and tell me there isn't money to be made.