Wizetrade Journal

ok bunny.....keep learning and share as you go.....thanks for your thoughts.....again congrats and I hope you "get out" where you want to be.....your destination should be defined IMHO....but more experienced traders than I, are able to read the chart and "truly play it by ear".

If your lucky perhaps some of them will share here and we can all learn!

stay humble and good luck.

Michael B.


Quote from mrbunnyrabbit:

Well, happy, obviously :) greed and fear shouldn't be a problem... The charts can help eliminate that.. e.g., if it is all red, I'll be greedy, because I am sure it will go down(well, very probable). Fear? Shouldn't be a problem here -RHAT is dropping like crazy, so if everything turns green, we'll still have a good amount of money - can't be scared about making 100. Up around 200 right now.
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Could you tell us why? did your lights turn green? or.....

And are you familiar with the pattern day trading rules? I am sure you are but just checking.

Michael B.



Quote from mrbunnyrabbit:

Got out around 20 minutes ago for a 166 profit after commisions(with Scottrade, 7).
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Quote from mrbunnyrabbit:

eh.. Tried to short TNE at 12.71... not enough shares available :o Anyways.... I papertraded it, up about 100.
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Well, if it wasn't available for shorting, then your real life results would not have included this trade, so bothering to see how it would've performed is moot.

About your real trade, RHAT, are you entering shorts at market or with limit orders? 'cause if it's shooting down when shorting both different entry methods will impact very significantly on how the trade turns out for you in real life.
 
Who is we? may I ask?

You said the market? you mean your instrument started trading flat?

What did WT say?

Michael B.

P.S. I am not picking on you....you asked for comments....just trying to help.




Hello everyone! Felt like making a journal - my indicator



Quote from mrbunnyrabbit:

Market. The reason is because it started trading flat, it went up after we got out, went back down.... it is really flat right now.
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We? Me and my dad are using it... it was my first real trade, he has done a couple. I meant it was a market order, not a limit order. I meant RHAT started trading flat.
 
Quote from mrbunnyrabbit:

Market.
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That makes a good point about how paper trades skew as representations of real results. If you short at market on a rapidly tanking stock, you'll get filled when the stock upticks, which compounded with whether you're using direct acess or web based brokers, could be far away from where it was when you submitted the trade.
 
The term "flat" and "really flat" needs to be used correctly. First I would like to know what range you would describe and how many bars and what time period would you be using to say "really flat"

I am not trying to embarass you.....you are at the beginning of your trading experience....and jumping in SHORTING as your first trade. Be careful. I commend you for your boldness.....

Michael B.
 
Be aware, Mr. and Dad Bunny...that when you trade a retail account on a nasdaq stock, that the "market orders" are likely held and traded by the brokerage firm. Scott-trade is as good as any, but keep an eye on the pricing...a nickel or a dime extra cost far outweighs the $7 trade savings.

Keep it up....and good luck to the both of you...

Don:)
 
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