The treacherous path to $200k a year
- Thread starter coolweb
- Start date
<b>Why the market maker and specialists Love me</b>
Its no doubt that market makers love shaking off daytraders, If anybody has traded successful you will notice they will give you bad fills when the price is going your way when you do big size etc..
The key is to notice this and be persistance.
Example:
[13:04] zen
[13:05] zen you're giving money to your broker
[13:05] zen I won't short it again today
[13:05] zen except big bounce
[13:09] coolweb still not short, market order sent in like 5 minutes ago
[13:09] zen XXXX may go down for some pennies
[13:13] coolweb filled
[13:22] coolweb thats 20 pennies right there
[13:22] coolweb 40 pennies
[13:24] coolweb got to be persistant
[13:24] coolweb not to mention volume is telling you nobodys support this
As you can see, when you are trying to get filled and it takes 5 minutes, it should tell you something
1) the MM and Specalist is a little prick
2) I will get on this stock direction if I have to retry multiple times.
The most superior moves comes when the bronco is very tough to ride. Few will be able to ride it resulting in few profiting big time.
When you encounter a movement where the price action is constantly trying to shake people off but making new lows or highs , you know this
1) has good *DUMB* support
2) This stock will go down or up so spectacular it will amaze you.
GREAT things never come easy. Only the few and persistant can ride. (minority)
Dating models comes with a high price.
Remember that.
Its no doubt that market makers love shaking off daytraders, If anybody has traded successful you will notice they will give you bad fills when the price is going your way when you do big size etc..
The key is to notice this and be persistance.
Example:
[13:04] zen
[13:05] zen you're giving money to your broker
[13:05] zen I won't short it again today
[13:05] zen except big bounce
[13:09] coolweb still not short, market order sent in like 5 minutes ago
[13:09] zen XXXX may go down for some pennies
[13:13] coolweb filled
[13:22] coolweb thats 20 pennies right there
[13:22] coolweb 40 pennies
[13:24] coolweb got to be persistant
[13:24] coolweb not to mention volume is telling you nobodys support this
As you can see, when you are trying to get filled and it takes 5 minutes, it should tell you something
1) the MM and Specalist is a little prick
2) I will get on this stock direction if I have to retry multiple times.
The most superior moves comes when the bronco is very tough to ride. Few will be able to ride it resulting in few profiting big time.
When you encounter a movement where the price action is constantly trying to shake people off but making new lows or highs , you know this
1) has good *DUMB* support
2) This stock will go down or up so spectacular it will amaze you.
GREAT things never come easy. Only the few and persistant can ride. (minority)
Dating models comes with a high price.
Remember that.
mschey,
I will make sure I short a home builder just for you,
My homebuilder groupies just did a nice pop, thats what I'm looking for , cleaned out all those silly traders.
I will short one to the moon and put on a few hundred k on that position ..
Poppa needs a brand new apartment in chelsea.
I will make sure I short a home builder just for you,
My homebuilder groupies just did a nice pop, thats what I'm looking for , cleaned out all those silly traders.
I will short one to the moon and put on a few hundred k on that position ..
Poppa needs a brand new apartment in chelsea.
SNDK 100% CLOSED Short 46.01 -> 44.15 +1.86
One really bad fill (wrong risk/reward #s ) which I didn't cover immediately put me a little farther from my very comfortable stop range, I needed to clear out that position to get back in my game.
This cover I will regret because I know it will go down to $42 which is why I didn't cover most of it yesterday.
But state of mind is more important to me, I'd rather be relaxed + profitable then shaky and more gains.
a Mistake I rarely, make, bad fills -> cover/sell immediately, This will be a reminder, I hope SNDK drops to $42, so I will be so angry I will never re-make this same mistake.
One really bad fill (wrong risk/reward #s ) which I didn't cover immediately put me a little farther from my very comfortable stop range, I needed to clear out that position to get back in my game.
This cover I will regret because I know it will go down to $42 which is why I didn't cover most of it yesterday.
But state of mind is more important to me, I'd rather be relaxed + profitable then shaky and more gains.
a Mistake I rarely, make, bad fills -> cover/sell immediately, This will be a reminder, I hope SNDK drops to $42, so I will be so angry I will never re-make this same mistake.
PLAN:
I have broken up my styles into two kinds of trading:
1) Investing
2) Trading
With investing, It is usually with smaller companies, smaller companies have wider spreads, harder to control stops.
With smaller companies , position size has to be 1/2 of normal trading size.
If I see a company I would like to invest in , I would place a position with a 0.3 - 0.4% stop lost.
If I see a company I would like to trade in, I would place a position with a 0.20% stop lost.
The larger the dollar amount of the stock, the better my risk reward ratio is .
I have broken up my styles into two kinds of trading:
1) Investing
2) Trading
With investing, It is usually with smaller companies, smaller companies have wider spreads, harder to control stops.
With smaller companies , position size has to be 1/2 of normal trading size.
If I see a company I would like to invest in , I would place a position with a 0.3 - 0.4% stop lost.
If I see a company I would like to trade in, I would place a position with a 0.20% stop lost.
The larger the dollar amount of the stock, the better my risk reward ratio is .