How 'bout that stock market?

SilverStone05 said:
Ha....you can make it some of the time...but not all of the time. That's the first thing you have to recognize to stay successful.

Discipline, too. Have a plan and ALWAYS stick to it. That's how you'll minimize your losses. Control your downside. My problem used to be that I sold my winners too early and hung onto my losers too long.

When I have extraordinary days, I'll shut things down early just because i'm superstitious.

A good start....buy large, solid dividend paying companies. Buy on 3-4% pullbacks. Snap up 1000 shares and sell when it bounces back. Be patient. If you don't see anything worth buying...don't buy. Cash is king, and if you've got it, don't throw it at a trade you are iffy about.

Do yourself a favor and stay away from penny stocks.

Good luck.
Click to expand...

Good avice. Actually stay away from most anything that sells for 5 bucks or less. There are some good buys under 5 bucks but not many.
 
First trade of the day...and yes the crickets are chirping, Steve. Took me 6 minutes for this round trip.

aapl.jpg
 
SilverStone05 said:
Ha....you can make it some of the time...but not all of the time. That's the first thing you have to recognize to stay successful.

Discipline, too. Have a plan and ALWAYS stick to it. That's how you'll minimize your losses. Control your downside. My problem used to be that I sold my winners too early and hung onto my losers too long.

When I have extraordinary days, I'll shut things down early just because i'm superstitious.

A good start....buy large, solid dividend paying companies. Buy on 3-4% pullbacks. Snap up 1000 shares and sell when it bounces back. Be patient. If you don't see anything worth buying...don't buy. Cash is king, and if you've got it, don't throw it at a trade you are iffy about.

Do yourself a favor and stay away from penny stocks.

Good luck.
Click to expand...


Good Advice...

I only meant that my portfolio is pennies compared to some...not that I would buy penny stock. :wink:

Yeah, I have done some of that...jumped out on winners too soon and held losers too long...live and learn.

I was doing awesome last year untill November...since then down 25% yikes.
I jumped out for a while and was stupid and jumped back in too soon. Thats okay I got 20 years of time on my side before I retire. I wont quit my day job:smile:
 
I'm staying out of everything this morning until the fed announcment... I wouldn't try and front run this thing... i've never seen such a wide ranging view of what the fed would/should/could do before at an FOMC meeting.

Should be an interesting day this afternoon!

Cheers!
 
SilverStone05 said:
First trade of the day...and yes the crickets are chirping, Steve. Took me 6 minutes for this round trip.

aapl.jpg
Click to expand...

looks like you made a nice 1250 there. You gave up on the 131? :smile: I have 12 canceled order this morning myself and accepted less then I was hoping for. I have done 2 trades this morning in xom and netted 3400. The market feels shaky. I am getting nervous I think I am going to sit on my money until the fed reports.
 
Ryanmcd2 said:
+103 pips on the week, not playing fed day. I have these trades posted realtime on the FF forums.
Click to expand...

Nice trading Ryan! Wouldn't expect anything less. I actually had my first losing day this month yesterday... I was so close to getting a perfect month but failed in the last days! Booooo!
 
BIDU trade went a little smoother....Minute and a half.

bidu.jpg
 
steveny said:
That apple trade would be worth 5300 right now :frown:
Click to expand...

My Mother - "A bird in the hand is worth two in the bush."

My Father - "Boy, you don't go broke making a profit."

Me...finally learned to listen to smart parents.
 
And the last BIDU trade for the day. This one was a nail biter....I attempted to average down twice, but the sell order finally hit......over an hour later. Love coming back from lunch and seeing executed orders. :biggrin:

bidu2.jpg
 
is this bidu action pretty typical? Or is this just quiet action pre-fomc? Chart seems rediculously clear and concise to trade.

Mind you... i don't know about the margin required to post up nearly 800k for a 1200.00 scalp, but thats another issue entirely...
 
da3dalus said:
is this bidu action pretty typical? Or is this just quiet action pre-fomc? Chart seems rediculously clear and concise to trade.

Mind you... i don't know about the margin required to post up nearly 800k for a 1200.00 scalp, but thats another issue entirely...
Click to expand...

As far as BIDU action, I really don't know....this morning was the first time I've ever glimpsed the level ii for BIDU. With huge bid/ask spreads, and good volume I had to get in.

AAPL is the only other issue I know of that has action like this. I cleared 20K on AAPL Tuesday last.

My negotiated rate for the minimal margin I use is negligible.
 
Last edited:
woohoo....half point!

rate cut that is...
 
Did anyone catch anything? I was putting in my order and on the phone when I looked at the TV and saw the rate cut. :frown: I was going to have the order ready to send at .25 above the ask and send when I saw the rate cut if it were .5. I lost out on 1.50 a share. I would have sworn they said the rate cut was coming at 2;30 not 2;15. WTF
 
You guys should look at trading something else besides stocks, Problem with stocks is you get RAPED in short term gains. I know trading forex I pay about 28% not 40% like I did with stocks. Only matters if you are making 6-7 figures though I guess.
 
Ryanmcd2 said:
You guys should look at trading something else besides stocks, Problem with stocks is you get RAPED in short term gains. I know trading forex I pay about 28% not 40% like I did with stocks. Only matters if you are making 6-7 figures though I guess.
Click to expand...

Short term gains are taxed at the ordinary income rate, max 38% federal.

I've never examined the tax consequences of forex, but learning a new craft to save 10% in taxes just isn't worth it imho.
 
Good start to the day. Just under two minutes.

aapl1.jpg
 
47 seconds. :biggrin:

bidu3.jpg
 

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