Another good day... things are working out... again, very disciplined (relative to average) and scalped the breakouts/breakdowns nicely.
+$590
Subscribe to:
Post Comments (Atom)
The key to the markets is apathy... once you understand and heed to this, you will never look back (right now, I have not achieved this goal)
Equine Friends
About Me
- EquineTrader
- I love horses. This is a log of all my trading activity. Enjoy it!
4 comments:
i recently found you through the VO and your numbers are great. i'm mostly doing research as well as collecting funds before diving into the game. do you list anywhere what your stake is, or possibly where you started at? according to your profile you're a tad younger than me. i would assume you were under the $25K mark, but then i see your returns. very nice daily numbers! i understand listing finances can be personal, i just like to get an idea of a trader's stake in the market versus returns. either way, you're doing great. although you do leave out a lot of details! maybe it's your strategy, who knows?! :)
I'm going to answer your questions in a random order:
1) I scalp alot so the charts are boring. A quick scalp here, a quick scalp there. The charts I've included below were actually to my detriment, because I was essentially just fading in and out of positions for very small gain with VERY big risk. You can be profitable consistently, but then s tock may trend away from you and you get HAMMERED!! Not a good idea in any trending market to do that, but in this choppy market it works alot better. When i make consistent money with little risk (like the past week - see holy grail link) I use momentum break-outs and break-downs and only stay in the trades for minutes at a time. That's the way to do it with little risk and good reward.
2) You have to have over $25k in your account to daytrade.
3) What is my stake? I like to say my stake is zero. This is because my NUMBER ONE rule now is NEVER HOLD OVERNIGHT... ALL my major losses have come through holding overnight... I just have to be disciplined at the end of the day.
4) This wasn't a question, but I would suggest that you only get into Daytrading if one, you have money to burn (ie. expect to lose everything you put in) or two, you want to treat it like a job and thus develop and strategy and stick to it. Trading by the seat of your pants kills everyone who tries it (including me). I am on my last legs now in regards to trading. If I can't stay disciplined over the next little while, it's over for me.
(1)your holy grail link is quite vague, but i assume your march 3rd "tests" and earnings were from a lot of momentum trades.
(2)(3)maybe i used "stake" incorrectly. i was actually asking if your current holdings were over $25K specifically in reference to the pattern day-trading law. obviously they are; i could have just counted your days from trading this week. sorry!
(4)i wouldn't say i have money i would enjoy burning, but most people who've succeeded have taken huge risks. with those risks i hope to be as cautious and unemotional as possible. i'm not looking for fame or fortune, i'm looking for a job i can enjoy. and, although i don't know you, i haven't met too many college kids with around $25K to burn. it's risks we have to deal with accordingly.
(5)stay disciplined!
Don't worry, I use my boyfriend's money, and I have burnt quite alot of it...
When it's enjoyable, you're probably not doing it right... apathy is the key to a successful daytrader. Once you have apathy, you have success.
Post a Comment