Trader P/L 2005

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I don't understand why this seems so hard to everyone. The circled ranges last longer than an hour and it happens pretty much every day................ MK, I am not doubting your prowess in the trading field, it just seems to me that this sort of thing is much more a function of a kickass commission and rebate structure than actual trading skills. I trade equities all day long and am successful and consistent, but I must admit I don't know anything about penny stocks that vacillate all day long in 2-3 cent ranges. Perhaps there is something to it, that I am not seeing.

Am not flaming at all, just my .02 to all the haters that are f****** up this thread. Anyone who can pull that kind of money out of the markets consistently is cool in my book. How you do it makes no difference.


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what don't you understand? Its not that difficult to understand; look at the time and sale, l2, and open book for Q today. Check out the ask @ 4.00, around the last 30 min of trading.

And Q isn't even a rebate stock.



Quote from brokerboy:

I saw be pays 5 buck tickets and routes it for ecn’s rebates. I don’t question he makes money but it sounds unreal to make millions a year doing it. A 27 year old kid woke up one day with a few 100k in his bank account and is flipping penny stocks to greatness. It should be a movie. The cockiness of what he says makes me think it’s not true. Anybody who does that knows it’s not easy. It comes of so bad but maybe I am wrong.
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I dont question the fact that low commissions has anything to do with it. commissions represent 20% of my profit. Its a fair shake to ask for what I do, when I go to a broker because of the volume per day I am putting through. which in some instances can be upwards of 10 million on some of these stocks per day. Its all rules of logic really. If you can do x by having y and producing z, then dont change things or adapt until its a neccesity.
Ive made no bones about telling people I pay .0005 cents per share for DOT non billables. That keeps costs extremely low.
 
Quote from Szeven:

I know no one believes that i can possibly pull down the numbers that i do, and i know i don't post screenshots of my blotter everyday, but i swear its all true!!!!!
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:D

hey, consistent winning is always impressive to me (not that that is your objective). what is consistently $100/day can become consistently $150/day. then $200. stay consistent and you too can be doubted by anonymous internet forum readers :)

take care and gtty -

omni
 
Quote from swiftmike99:

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Isn't your stop out like 1000 by now?
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no it's $200 and I think I might drive to Toronto and kill Peter Beck. 3 people in my office made 10g's yesterday, while I was sitting at home browsing ebay and writing e-mails to friends...

If that doesn't spell frustration I don't know what does!!!!!!

matt
 
Quote from mksummny:


Ive made no bones about telling people I pay .0005 cents per share for DOT non billables. That keeps costs extremely low.
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Nice coins you are minting there, mk. kudos to ya!

Don't waste your energy with the naysayers. It really doesn't matter how one makes money in the market as long as it is legal and moral (some don't even require the latter, but that's another story.)

I just have to clarify this with you, you mentioned it twice already, are you really paying .0005 CENTS/share? And not meant to say .0005 dollars/share? Because at your rate .0005 cents / share, 1 million shares would cost only $5.00, an amount people would find under sofa cushions. Even at .0005$, it's still helluva deal compare to the industry norm of .003 - .005/sh.
 
Thought it was gonna be only a 1k day here....but caught the up in some brazilian securites, after getting knocked around in there...again. Traded reits again today, got nailed by the swing up after lunch. Caught a couple VERY nice gaps today....those made about half the day.

MTM +9.1k with 8.5k realized today, across all accounts.

Have a great weekend everyone!
 

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