How 'bout that stock market?
- Thread starter Ski_Banker
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I'm not actually trading that system, i'm still trading fibs and i'm doing very well with them. Fibs are that one area that i just know better than anything else and I like being able to measure price action so i have congruent and defined risk:rewards before every trade I take.
I took 35 pips out of the USDCHF, 40 pips out of the EURJPY, and 33 out of the USDJPY all short from around 11cst today. They weren't huge moves, but they worked for me!
My only problem has been that I just don't have the margin to push around and get into all the setups I see... slowly but surely. I did 75% on my account this month so i'm happy with the results. And I just opened up a second "swing trade" account with EFX today. That should help the overall returns!
I need to give you a call sometime and catch up. Been to long! Cheers!
+1... IB is a fantastic broker!
Boom... Ryan do you claim 988 status or do you keep 1256 status? I'm trying to get all this stuff setup with my tax guy this year. Know the ins and outs of trying to claim trader tax status?
I think I might start trading currency because that seems to be the vogue thing flavor of them month. I am not hearing about it just yet at every teas party so maybe now is a good time to get in before all the cookie jar money comes in.
edit..and they keep running that forex commercial non-stop.
edit..and they keep running that forex commercial non-stop.
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I think you would find it MUCH more profitable... especially considering the margin most brokers will give you.
10.00/pip (most pairs on 1 standard lot)...
300-400 pips + is easily doable a month... And it takes about 1000.00 worth of margin to put on 1 standard lot. You do the math!
Ryan said in this thread before he trades 100 lots... thats major mooolah!
10.00/pip (most pairs on 1 standard lot)...
300-400 pips + is easily doable a month... And it takes about 1000.00 worth of margin to put on 1 standard lot. You do the math!
Ryan said in this thread before he trades 100 lots... thats major mooolah!
I scaled back to 20 now, too much news / fed bullshit.
Also about the tax thing man I don't even know I just send all the shit to my CPA she does it I sign it and that's it.I scaled back to 20 now, too much news / fed bullshit.
Ditto. CPA is the way to go. Last year I carried in 5 FIVE banker boxes of trade slips. This year my wife is importing it all to quickbooks. That seems to be working well.
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Ameritrade automatically makes tax documents for you. Divides em among short term gain/loss....long term gain/loss and dividend income. Makes it real easy. Print the documents out, and give it to your CPA. Easy as that.
wow scottrade does not do that as far as I know. I am thinking of switching over to BOA to trade as they have free trades
Thats awesome guys...Its nice to see how the big dogs operate. I Get excited when my portfolio goes up a few hundred a day...I can't imagine doing 10K. Wow.
Best of Luck to you guys!
I am one of the smaller dogs I am sure. I see orders go by some days of 25,000 shares or more and I am like damnnnn.
Damn looks like I can cross Yahoo off my shopping list. I knew 18 was cheap and I should have bought it there but I was holding out for the big down day and I was going to buy it there. Coulda, shoulda woulda. I think we will see a lot more of these buy outs with the valuation on some companies.
The question is what is MSFT going to do with YHOO? What else might they be looking at to combine YHOO with and create...what? I sure they don't want YHOO just to have it.
Looks like my options didn't work out but I was able to sell them for a nickle less then I paid so the loss is minimal.
Hope everyone is doing ok making lots of good trades. Today is the first of the month so I am outta here to go get rent checks on roads covered in an inch of ice this should be fun. It is my favorite day of the month and not just because I get the rents but we also do a big lunch with all the people who help us do what we do and I can't wait to check in and see everyone.
Looks like my options didn't work out but I was able to sell them for a nickle less then I paid so the loss is minimal.
Hope everyone is doing ok making lots of good trades. Today is the first of the month so I am outta here to go get rent checks on roads covered in an inch of ice this should be fun. It is my favorite day of the month and not just because I get the rents but we also do a big lunch with all the people who help us do what we do and I can't wait to check in and see everyone.
MS buy Yahoo and kills Google, wait and see Remember Netscape?
Remember Netscape?So I am pissing and moaning about having to go and get the rents today because I wanted to stay home and trade. My wife ordered me an aircard and I am currently sitting in the back seat of the Tundra getting ready to make my first mobile trade. BAAAWWWWHHAAAAAA. I feel like a kid again.
Ya man get upto date! lol, I am old school too and have a phone line for backup. I dont trust them there computer thingies
Ya man get upto date! lol, I am old school too and have a phone line for backup. I dont trust them there computer thingies
I have already had to reset it once and its making me nervous. Up 350 so far. :biggrin:
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Big dog? Heh, if I was a big dog, I'd have everything in fixed income and corporate bonds. Collect the interest and not worry about anything. :biggrin:
Hell, I'm happy to share my trades here. Can't exactly share success stories with a lot of people. Try telling your twenty something friends that you cleared 10K on apple in 2 hours. So I just keep my mouth shut. :wink:
Steve....even though January was a perfect month, I took a loss on Friday.....fat fingered my order entry for my cover price on BIDU. It was trading a few bucks below where I shorted it, so I was up damn good but silly me pressed enter before I double checked my order price. DOH. Lost a few bucks.
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UG, that sucks. I have done it myself before. I am using 2 laptops and a desktop, 3 mice, 3 keyboards. I color coat them with post its. Sometime I will send buy order when I think I am sending a sell order and end up with shares where I wanted to sell them not buy them. Only thing that irritates me about scottrade is if I have all the screens up on multiple computers and an order goes off it sends a conformation to all the screens so I have to hit ok on all the screens. Sometimes it will close the trade window I have set up on the other pc. I would like to have a buy window open on one pc and a sell window open on another then when the buy executes I can immediately press the send button on the sell order. If I could make that happen I could snag another few trades a day.
I was just at circuit city just 5 minutes ago, on the road now with the air card, and had a new pc picked out with 4 screens and the video cards to run it. The sales guy says he might have it together by 8pm tonight but could have it all together by Tuesday night. He wants me to pay for it in advance and then wait around for 2 hours on a maybe. WTF. I walked out don't have time to wait around for a sorry you just wasted 2 hours.
I am just going to order it off the internet and have it dropped at the door.
Check these out...
http://www.cinemassivedisplays.com/spectrum.php
I agree about the big dog thing. I have met a few big dogs, we are just puppies at this point.
Most of my longer term macro themes have played out, so I'm just 'in and out' at this point which is not my preferable investing style.
I'm still leveraged bullish to bullion fairly aggressively, but I cut back there around gold 850 and gold 925 last week substantially. It's been an easy ride from 600 just a few months ago.
International plays are heavily volatile and most of my financial shorts are fully covered at this point.
Last week I was successful with CME which is one of my favorite stocks to play. "big dollar" stocks are some of the easiest I guess because of the different buyer types vs a 30$ ultra high liquidity equity. After you watch something for long enough, you do develop a 'feel' as you run over the figures as to where it's going and how confident you are. I bet a little more aggressivly than usual on CME at the 5xx mark and turned short in the mid 600's and almost nailed it perfectly.
I keep reading and reading and reading but am not nearly as confident with the short term 1-3 months as usual. The uncertainty and return to the mid 12's DJIA has limited my plays.
Powershares are great to trade with as well, especially if you are like me and can sit at the screen undistracted for an hour or two at a time. A friend of mine noticed something that I've confirmed, the QID/other ultra plays lag the market slightly under extreme volatility. The QID was up substantially just as the market was clearing even with heavy momentum/volume, I jumped in and got an "easy" 5% just because of timing as it readjusted to the red.
I used to do forex but for whatever reason just can't get enough in to it to make it enjoyable. I read intl macro analysis just for fun, I'm probably a sicko.
I'm still leveraged bullish to bullion fairly aggressively, but I cut back there around gold 850 and gold 925 last week substantially. It's been an easy ride from 600 just a few months ago.
International plays are heavily volatile and most of my financial shorts are fully covered at this point.
Last week I was successful with CME which is one of my favorite stocks to play. "big dollar" stocks are some of the easiest I guess because of the different buyer types vs a 30$ ultra high liquidity equity. After you watch something for long enough, you do develop a 'feel' as you run over the figures as to where it's going and how confident you are. I bet a little more aggressivly than usual on CME at the 5xx mark and turned short in the mid 600's and almost nailed it perfectly.
I keep reading and reading and reading but am not nearly as confident with the short term 1-3 months as usual. The uncertainty and return to the mid 12's DJIA has limited my plays.
Powershares are great to trade with as well, especially if you are like me and can sit at the screen undistracted for an hour or two at a time. A friend of mine noticed something that I've confirmed, the QID/other ultra plays lag the market slightly under extreme volatility. The QID was up substantially just as the market was clearing even with heavy momentum/volume, I jumped in and got an "easy" 5% just because of timing as it readjusted to the red.
I used to do forex but for whatever reason just can't get enough in to it to make it enjoyable. I read intl macro analysis just for fun, I'm probably a sicko.
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Opinions from a young, wet behind the ears novice.
If you aren't sure about stuff....cash cash cash. I was long a bunch of stuff and when the market turned volatile 3-4Q last year, I was making sure I was cash at the end of the day.
But I tell you what....the second 2-3 big financial institutions come forward with positive earnings and decent guidance, the market will take off. Mark my words, the financials will lead us out of this shaky situation. From this point on, the regional/large banks will triple in the next 3 year time frame. FITB, NCC, C, WM, SBIB, WFC.....all paying huge dividends. The price premium is no longer built in to these stocks, but with the dollar so weak its only a matter of time before one of the small ones gets bought. I'd buy a thousand of each, but i'm impatient. :wink:
If you aren't sure about stuff....cash cash cash. I was long a bunch of stuff and when the market turned volatile 3-4Q last year, I was making sure I was cash at the end of the day.
But I tell you what....the second 2-3 big financial institutions come forward with positive earnings and decent guidance, the market will take off. Mark my words, the financials will lead us out of this shaky situation. From this point on, the regional/large banks will triple in the next 3 year time frame. FITB, NCC, C, WM, SBIB, WFC.....all paying huge dividends. The price premium is no longer built in to these stocks, but with the dollar so weak its only a matter of time before one of the small ones gets bought. I'd buy a thousand of each, but i'm impatient. :wink:
Yeah that's the part that drives me nuts is the waiting. Buy stock and hold it for 6 months is like watching paint dry.
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