The Road to Consistency

[jl1575]

Wow, that is super size! I trade only 3-10 lots on SPY, QQQ, NVDA AAPL ADSK SPLK ABDE or something like that, but most of these stocks move fast back and forth, so probably not fit for super size, as you can win big but also can lose big too. I think it is always better to trade something that you are familiar and comfortable with, because many stocks behaves in quite different patterns and dynamics. By the way, small biotech stocks are crazy and almost like gambling and you can make a big fortune or blow your account if betting big on them, and they don't follow charting or TA analyses, so I don't touch them. Congratulations on your big gain today!

 

[trader99]

Wow, that is super size! I trade only 3-10 lots on SPY, QQQ, NVDA AAPL ADSK SPLK ABDE or something like that, but most of these stocks move fast back and forth, so probably not fit for super size, as you can win big but also can lose big too. I think it is always better to trade something that you are familiar and comfortable with, because many stocks behaves in quite different patterns and dynamics. By the way, small biotech stocks are crazy and almost like gambling and you can make a big fortune or blow your account if betting big on them, and they don't follow charting or TA analyses, so I don't touch them. Congratulations on your big gain today!

I haven't traded SPY or its options since it doesn't move much? I've traded ES but it was years ago. Since then, I like NQ and QQQ better.

So you like big cap tech names? I haven't traded those names so I don't know how they behave. Therefore, I would definitely not scale up size on their options.

I will stick with what I'm familar with and gradually scale up.

But I see all these crazy small biotech going up 50%-100% intraday and I feel like i'm missing out!! I just have not trained myself to trade those crazy names yet...

Thank you for your warm congrats.

 

[trader99]

12/11/2019:


Taxable Acct: Trade Zero
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Realized gain: $226.27
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Taxable Acct: IB
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Realized gain: $527
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Didn't trade too much and still managed to be in the green. I love my consistency. Not in the thousands but not complaining.

But holding a swing position in a few puts that's down $1K. Don't like it but all of my swing positions usually are down a bit then come back with a vengeance. Let's see. If not then I just cut losses and get out. I'll give it a week.

 

[trader99]

Is that the PG&E company? Out in the west? I guess they would be volatile, what with them burning down the western 1/5 of the country and having to settle lawsuits and shit.

Yep. That thing is crazy! I should have paid more attention to it. On 10/28/19, it bottomed at $3.55. Believe it or not, I shorted 30K shares of PCG and actually made money on a quick scalp. I should have zoomed out and loaded up on some calls like I did in 2018. Today it went up as high as $13! Over 4x. With call options it would have been several thousand percent! Oh well!

 

[trader99]

12/12/2019:


Taxable Acct: Trade Zero
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Realized gain: $563.12
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Taxable Acct: IB
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Realized gain: -$130
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Today had a lot of non-trading activities on my mind and couldn't focus. So I went back to my reliable NG and UGAZ. Bang out some profits.

I bought QQQ puts but got chickenshit and out got for a small losses. It more than DOUBLED in the next 40mins!!! Oh well!

First time, I can say doing work is costing me trading money. ROFL. There was so many good trading opportunities but I had to stop trading for non-trading activities. But I will always work because it provides safety and security. Work income is like a bond. Trading is like high variance cash flow.

 

[trader99]

12/13/2019:

Taxable Acct: Trade Zero
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Realized gain: $90.81
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Though green for the day, it was a bad trading day. Didn't follow processes. Made a little shorting $AAPL. Once in a while, my bad countertrend habit rears its ugly head. Luckily, got out and made a little. Wasted time. Should have been in much better trades.

Also have large unrealized losses in the puts in my other speculative account. Hopefully this is not the one time my bad countertrend habit get me!!! fck!

 

[trader99]

2/27/2020:


Taxable Acct: Trade Zero
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Realized gain: $5290.72
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Taxable Acct: IB
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Realized gain: $1001 (MNQs)
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Non- Taxable Acct: IB IRA
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Realized gain: $1113 (MNQs)
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Total Profits: $7404

Thanks to all of you who read and support this thread! @jl1575 , @Overnight , @ironchef , @Handle123 , @traider @Turveyd @jamespond @BlueWaterSailor , @MarkBrown and many others.

Finally! Today I finally broke the $5K/day goal from PURE INTRADAY trading and scalping of equities. I have had larger profits but they were from options and holding overnight or swing trading. But those results were volatile. i've made a lot but also lost alot. I like consistency.

Years ago, I would never thought I can daytrade equities and make this money. I gave up on equtieis and wasted years trying to daytrading futures YM/NQ/ES. Finally I'm decent at trading MNQs. Thanks to
@Overnight . I stopped trading hogs futures and GC futures. Just MNQs and equities. That's enough action.

The ironic thing is that I made it going LONG. NOT SHORT. It's too risky to short at these low levels and get violent wick backs! I guess I could have made a lot more going short.

Anyhow, hopefully 2020 is my breakout year.

It's possible to to daytrade as a retail trader. These numbers are on a small accounts. The TradeZero account is just slightly above PDT. Barely. No prop account. No six figures account too. Well, I use 4x intraday leverage.

Keep the dream alive and don't give up. But you gotta constantly look to ways to improve your strategy. Don't stop learnin'

P.S. One thing I learned today is it's difficult to time the bottom. Gotta have patience. With a little bit more patience I could have make $20K-$30K today on SPCE bottoms. One lesson at a time. In the past, days like today would have WRECKED my account!

 

[trader99]

2/27/2020 Addendum Afterhours:

I traded afterhours and added more profits.

Taxable Acct: Trade Zero
=============
Realized gain: $6374.81
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Taxable Acct: IB (no trading since margins on IB are too high to trade MNQs overnight on this small account)
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Realized gain: $1001 (MNQs)
=============

Non- Taxable Acct: IB IRA
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Realized gain: $1921(MNQs)
=============

Total Profits(RTH and AH session): $9403.81


Getting close to my goal of 5 figures day.

 

[jl1575]

2/27/2020 Addendum Afterhours:

I traded afterhours and added more profits.

Taxable Acct: Trade Zero
=============
Realized gain: $6374.81
=============

Taxable Acct: IB (no trading since margins on IB are too high to trade MNQs overnight on this small account)
=============
Realized gain: $1001 (MNQs)
=============

Non- Taxable Acct: IB IRA
=============
Realized gain: $1921(MNQs)
=============

Total Profits(RTH and AH session): $9403.81


Getting close to my goal of 5 figures day.

If you traded emini instead of micro, your profit in IB IRA account alone would be $19210.
congratulations!

 

[trader99]

If you traded emini instead of micro, your profit in IB IRA account alone would be $19210.
congratulations!

Thanks on the congrats!

The margins on IB for IRA account is SUPER HIGH. fckin' ridiculous. I know.

but I actually like the minis. I can enter and average in on entries and average out on the exits.

But after a certain point, the commish is too much if I trade 30 MNQs. It's more efficient to trade 3 NQs.

Today I capture HUGE # of points. Good market for trading.