Trader P/L 2005

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Quote from SammySOESa:

here's the whole printscreen.

http://www.freewebs.com/mytradingjournal/7-19close.PNG

i took it at 4:08:14. at that time, my 500 share open, overnight QQQQ position was trading at $39.25, 51.7 cents higher than the previous day's $38.73 close.

e*trade calculates first in, first out. if i had a 1,000 share overnight swing position that closed monday at $39, scalped Q's all day, never going under my initial 1,000 share holding, and closed out tuesday with 1,000 shares at $39.20, my open end of day position would be up 20 cents, regardless of what i scalped all day.

if i had 1,500 shares at the end of the day, those extra 500 shares would be averaged in with the 1,000 share position, skewing the up .20. if i had 500 shares at eod, it would be considered up .20, unless i bought & sold under my 1,000 overnight holding.


forgot to add.. yes, i always hold positions overnight. if it gaps down, i'm usually able to scalp back the loss. if i gaps up, i'll let it run and occasionally pyramid up. i also have 39 strike puts on around half of my position just in case.
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so part of your core trading earnings includes trading a fixed participation in the QQQQ's? that's good, as they are the hardest to manipulate as in being a major player able to influence the movement in the stock.

SMH, XLE, (DIA, SPY to a lessor extent), IWM and a few other ETF's also provide that same cushion for trades.

actually, its good to let others know this so that more participation makes these vehicles more liquid.
 
Quote from limitdown:

so part of your core trading earnings includes trading a fixed participation in the QQQQ's? that's good, as they are the hardest to manipulate as in being a major player able to influence the movement in the stock.

SMH, XLE, (DIA, SPY to a lessor extent), IWM and a few other ETF's also provide that same cushion for trades.

actually, its good to let others know this so that more participation makes these vehicles more liquid.
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yup, the zero manipulation factor is important. the way i see it, the intrinsic value of the underlying quad Q components will (should) prevent it from ever crashing or doing irreparable harm to my account. that's why i can freely sling 1,000+ share lots of them while not having the cajones to trade other equities with such confidence.

i always have a minimum of 500 Q's in my account overnight, and as much as 3,000. if 9/11 only gapped it down 3 points, and it eclipsed it's 9/10 high a month later, i'll never have any fear holding a huge underwater lot. i'll just continue scalping cheaper positions until it returns. of course being that i should always expect the unexpected, i always hold some Q puts on a portion of my longs. i never exercise them, tho.. i just sell them to hedge the temporary long Q drawdowns.
 
now that was a fun 3 o'clock rally. that GS trade wasn't so bad after all. it ran 90 cents against me, then came right back a half hour later.

10,700 shares traded.
 

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I downloaded and funded a fulltiltpoker account to try and learn some poker, yeah I am completely addicted to it----figures. If you are on there I am tdatrade I have been playing the 25/50 cent games. lol
 
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