I see the volume is so big and tried to get filled with this stock. Can never get filled, if I get filled, it's going against me. I see that mksummny is making lots of money with LU and I had the method to make a penny on LU on each trade but it just take LONG time to get filled on both way. How can anyone make lots of money with LU?
Trader P/L 2005
- Thread starter Diamondtrim
- Start date
- Status
I dont trade LU, but IF it were as easy to buy the bid, and sell the offer all day long and getting these fills all day long ... we all would be doing it.
The beauty about mksummny posting his P / L is that he has the way and ability to print money in LU on a daily basis, and IF his results impress you THEN as a trader - we have to think "outside the box" on how he is doing it AND discover for ourselves a profitable way to trade LU. I just dont think, many will walk us directly through the exact steps they take as a trader to make money - especially IF is as consistent as mksummny. Yet it appears he has shared a good portion of his strategy.
So far, he has told us that he scalps on monster size, in his favorites (which includes LU) for pennies, etc. I think this is different than making a market on the bid / ask in LU like what you said you have tried.
Just my observation.
PatrickQ
The beauty about mksummny posting his P / L is that he has the way and ability to print money in LU on a daily basis, and IF his results impress you THEN as a trader - we have to think "outside the box" on how he is doing it AND discover for ourselves a profitable way to trade LU. I just dont think, many will walk us directly through the exact steps they take as a trader to make money - especially IF is as consistent as mksummny. Yet it appears he has shared a good portion of his strategy.
So far, he has told us that he scalps on monster size, in his favorites (which includes LU) for pennies, etc. I think this is different than making a market on the bid / ask in LU like what you said you have tried.
Just my observation.
PatrickQ
I took a $1300 hit on BNI, which put me down almost $800, and then I went on a nasdaq rampage and made $500 or so back.....
1 cent on 32k or ORCL and 2 cents on 10k of sunw bailed me out!! Oh yeah, took a 1 cent loser on 10k MSFT, that really didn't help things out!!!!!
anyways, here is today's EOD.....
mnx
1 cent on 32k or ORCL and 2 cents on 10k of sunw bailed me out!! Oh yeah, took a 1 cent loser on 10k MSFT, that really didn't help things out!!!!!
anyways, here is today's EOD.....
mnx
i don't want to be negative here but i've been trading every day 15 straight years and few have the ability to make it long term. i've had several million plus years and some nice down years but overall's it been a great profitable job. i've seen people try the small stocsk in huge vol and few made it. the king of playing the lu game in the 90's was rn or rj reyonlds. it was a $5 stock and the lot sixe was stacked 999x999 all day long.some of these so called blotters might impress people but why aren't these guys showing every trade so we can see the fills? i'd like to see the actual trades in there compaies format. let me tell you why. back in 2000 i started trading with sombody with a few friends and made huge money. so when doubr ona day arose we'd exhange p@l's.what we'd do is paste and post are p@l's by email. well one friend i doubted i noticed something funny? his # format looked funny. i started messing around with mine and noticed you could change the figures. so from then on to make one belive you had to print it out with the official company logot and fax it to each other. i'm not implying any trickery is going on but its something to think of
joey, your points are well taken as it is a MUST to be a skeptic in this industry as there are many, who will do anything to make a dime. yet, i think the benefit of this thread is not for traders to post how great they are as traders because they make X amount of money, each and everyday, BUT rather to inspire, share a few PMs, and motivate others to see what can be monetarily done as a trader.
when i started out trading in 2000 at ECHO, I was able to see guys in the office that made good, good money day in and day out for a couple years. it was amazing to see their numbers at the end of everyday - +2500 to +4000 ... each and every darn day ... for 2 years.
this was very important for me to see because I knew that guys were making great money trading, and that it was possible to make that money on a daily / consistent fashion.
IF anything, this thread demonstrates and shows newbies/unsuccessful traders the potential for what guys are able to do daily. And, if for some reason these p / l sheets are fake, so what...
because there are traders making great money day in and day out. It can be done, it is being done and you can be motivated by it and by this thread.
PatrickQ
when i started out trading in 2000 at ECHO, I was able to see guys in the office that made good, good money day in and day out for a couple years. it was amazing to see their numbers at the end of everyday - +2500 to +4000 ... each and every darn day ... for 2 years.
this was very important for me to see because I knew that guys were making great money trading, and that it was possible to make that money on a daily / consistent fashion.
IF anything, this thread demonstrates and shows newbies/unsuccessful traders the potential for what guys are able to do daily. And, if for some reason these p / l sheets are fake, so what...
because there are traders making great money day in and day out. It can be done, it is being done and you can be motivated by it and by this thread.
PatrickQ
To clarify, when I say a bunch I mean maybe 25% at the expense of the other 75%. Who knows? Just a thought. Actually having said that, It still doesn't make much sense because wouldn't the 75%'s get tired of losing and move on eventually leaving the 25% to battle eachother decreasing volume over time..
So I don't know.. maybe someone can explain.- Status