Trading Journal - July

Vinny1 · Jul 10, 2002

I would suggest maybe 1% or 2% of your capital is a good stop loss point to set.

ANCHOR · Jul 10, 2002

Originally posted by Vinny1
In case you didn't notice,nasdaq stocks tend to trade toward size at the figure.So i look to short or go long in anticipation of the stock trading toward the figure

Vinny,

Another stupid question, what is the "figure" that you speak of here.

Vinny1 · Jul 10, 2002

figure=whole number like 25.00

ANCHOR · Jul 10, 2002

Okay, thanks. Keep up the good trading.

DaqTrader · Jul 10, 2002

Originally posted by Vinny1
In case you didn't notice,nasdaq stocks tend to trade toward size at the figure.So i look to short or go long in anticipation of the stock trading toward the figure,as long as the futures are moving the same way.But most importantly,look to buy strong stocks on rallies and short weak stocks on sell-offs.

Don't know if this is in reply to my question...but anyways I was asking where u set your stops...nasdaq stocks tend to do what they want to do...they have been known to blow thru the figure , touch the figure and sell off etc. etc .etc.......

goldenarm · Jul 10, 2002

Can you still make good money trading that way writing so many tickets? It only takes one or two wrong trades to wipe out alot of your gains, especially when you trade in 2000 or 4000 share lots for dimes.

Vinny1 · Jul 10, 2002

I don't try to just trade for 10 or 20 cents.I get out when i can and when i think the stock and futures have stalled.

traderpatmi · Jul 10, 2002

Should of hung on to the short,
falling off the cliff.

Thanks for the insight VINNY.

Pat

DaqTrader · Jul 10, 2002

so basically getting back to what i was saying....you must get shaken out of alot of trades, only to see them go your way.....not trying to bash just trying to learn......I saw you said you risk 1 to 2% of capital (not knowing what type of capital you have is the 20 pennies netting you more than you are willing to lose)

Vinny1 · Jul 10, 2002

If i'm trading a $50 stock,i'd set about 50 cents of a stop loss;for a $25 stock,i'd set about 25 cents of a stop loss.So about 1% of the stock price is my stop limit.It all depends on what you want to do.This is an art,not a science.