One good thing about PDT rule

you know what happens when you get bored, and your data feed is sketchy, and you take your discipline and throw it out the window? well , just check out today's trade...I really can't wait until I get my pro acct open..going to get fingerprint's today...
i'm not upset with a $19 loss, plus $20 roundtrip, I'm upset that I made a trade for no reason other than seeing the index's going lower and expecting XLNX to follow.
Trade what you see. Not what you think!
No beer tonight. Only whiskey.:cool:

ok, nows it's 3:30pm , and I'm really kicking myself!
 

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Dat-
yes, RT3..here's my screen shot...it's just easier to use bigcharts sometimes....
and don't make fun of my lack of space
only one 19" monitor for now
Peace:D
uptik2000
 

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uptik,

and you take your discipline and throw it out the window?

Took a look at your trade and aside from your entry (which I think is what you are referencing in your statement about discipline), I'm curious about your exit strategy. Looks like you got very lucky by holding on for a few hours, riding out the rally, and only losing .19. I assume you were able to not take a stop because you had it set above the previous swing high? If so, it seems like you were giving your trade close to a full point (!) of breathing space, so I'm wondering about your target that would make this a reasonable reward/risk ratio.
 
Oh my gosh, you held onto this trade for 2+ hours? That must of
been painfull! Ouch!

Was the "discipline" problem not taking a quicker stop? I don't
think the entry was horrible. I would of waited for XLNX to
perhaps really hit the low of the day or even go under. It looks
like you were buying at what (obviously) turned out to be a
support point from what I see on the BigCharts chart.

Why was the buy stop rejected by the clerk at 42.00? And
42.40? Did you cancel them?

It looks like you tried to put a stop in at 42.00 right after the
short fill? Too humongous of a stop for me! But then again,
I'm a chicken. I like tight stops.

And it's a good thing this stock didn't reach HOD in that
12:15-12:20 area. It might of went up like a rocket!

Glad to see you got out of this one for a .19 loss though. It
could of been worse!

Trade on!

:)
 
One problem with the rule, at least for me, is that it keeps me in a bad trade longer because I hate to give up what may be my only chance that day.:mad:
 
Or...... i'll hold so i don't waste a daytrade on a loser
or...... if i sell this it will make no3 so i'll sell tomorrow
or......i'll hold it might go up more/down more tomorrow conserve my 3 daytrades
or.....the list goes on and mainly negative for what i've encountered

Far as i see its added a whole new list of psychological problems that will lead one to blow-up.
Maybe not all psychological ones but ones you are forced into doing to comply with the "rules".


"one good thing about PDT rule"........NOTHING
but hey f@k em we'll get there
 
ok...I'll try to answer all the questions:

Magna..yeah the trade had nothing good about it ...the reason the stop was so big? yeah I moved it above the previous high...but then i noticed that there ws one particular MM that really seemed to be backing away on offers...no real volume on the up moves...so it really looked like they were bringing it up to take out those stops...so I loosened mine, was I lucky? maybe...BTW the MM id was LSPD, which I looked up and it's listed as "MarketXT special clearing acct"

Version: actually I was in that trade for almost 3 hours!
And if you noticed the end of the day(if I didn't wimp out and go try to get my fingerprints done, I could have actually made $)

So I realize the trade was crap...but I'm not only going to post my good trades..if I make a trade I'll post it...in retrospect, if I had to do it over again...I would have been more patient, waited until it inched back to 42, and then entered my short...held it for a full point...should have my pro acct open by Feb so we'll see how my trading plan goes then...will be looking to do mostly the QQQ's and maybe some small nas or even trade a pair against my qqq position
please add more criticism or comments...they're helpful
Peace:cool:
Uptik2000
Poker game tonight, will make that $19 back..and then some!
 
i missed Magna's question about the ratio...yeah even that was no good and here's why:

what I was looking at ws the low from wednesday, which was about 40.47...and I was THINKING that if it pushed down through that I could get a point winner, which would be a 1:1 ratio which is dumb!....and even dumber was me actually "thinking" what it would do instead of watching what it was doing...
I think Tom Cruise said in TopGun, "If you think, you're dead":D

Dat- any suggestions about multi-monitors? I was thinking about getting a Matrox G450 and one more 19" trinitron

and one other thing about PDT that sux...if I had my pro acct..I would have entered another position that was called in the chatroom...by catalite or pratorian2 i forget, I think it was the (HC) long..that was a sweet call! Props to those guys!
 
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