How 'bout that stock market?
- Thread starter Ski_Banker
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I just pulled up that chart... my god that thing was dropping like a rock!
Nice trade!
Stick to what you like, Hell I trade 3min 5min 15min 1hr 4hr and daily and make money on all of them.
Out of curiosity, how much did you guys start out with in the market? Some of you are moving some pretty high dollar stocks in large quantities. Seems to me that doing small trades on high dollar-value transactions works a lot better than doing the same thing on smaller dollar-value transactions.
In other words, if I start with $5K, I'm guessing that your trading style would not necessarily work as well as if I was playing with $50K. You're making $500, $1000, and even up to $3500 on trades of $750K+ at times - that more than covers any fees you'd incur with the dozens of transactions you're running each day.
I'd imagine that multiple trades on much smaller transactions (for a $5K trade vs a $500K trade, you're looking at a reduction of the gain by 100x), you wouldn't really be able to cover your expenses nearly as well? Or are you guys getting unlimited trades through a standard plan with your trading software provider?
In other words, if I start with $5K, I'm guessing that your trading style would not necessarily work as well as if I was playing with $50K. You're making $500, $1000, and even up to $3500 on trades of $750K+ at times - that more than covers any fees you'd incur with the dozens of transactions you're running each day.
I'd imagine that multiple trades on much smaller transactions (for a $5K trade vs a $500K trade, you're looking at a reduction of the gain by 100x), you wouldn't really be able to cover your expenses nearly as well? Or are you guys getting unlimited trades through a standard plan with your trading software provider?
5k is more than enough to start a forex account. Even the decent brokers like the one I use only have a 400.00 account minimum. You could get your feet wet with that trading for 1$/pip on one mini lot until you get established with your method.
Your right though, its much harder to take 5k with a high priced stock and make any gains because the % move required is very high. Its much easier to throw big size at a market and take a small move, multiplied many times over by big size.
Trading commissions through my broker would be about 5.00/per side, per standard contract.
So today, I ended up closing out my GBPUSD trade for +30, and the +22 net from my other trade, for a total of +55 pips.
If I was trading one standard lot that would be 550.00 in profit, and 30.00 in commissions (5.00 X 2 (in and out) X 3 trades).
Relatively, its a small trivial amount by comparison.
It helps to have more money to play with but it's not a requirement. There are stocks that you could buy large lots of that sell at low prices but most of them are junk.Had you put your 5k in blue coat a while back you would be very happy rigt now. Apple once sold for a very cheap price and had you bought apple back then you would also be pretty happy right now, even with apple down as much as it is. There is no amount of money too little to invest. Everyone has to start somewhere.
I agree. If someone asks me how much to start out with, I tell them the knowledge requirement is more important than the $ requirement. In fact, the more you start with the more you will lose if you don't know what you are doing.
At the same time, people looking for big gains with a couple grand often have trouble staying diversified/hedged. I think there should be a knowledge test and if you pass that you can invest, how much money you have has little implication IMO.
I had a guy today ask me about how much money he should put in a pink sheets stock he knew nothing about. I told him he's about 250 questions ahead of himself.
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First round trip today.
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Nice AAPL short, Steve....that sucker dropped like a rock in the last couple hours of trading.
I like big share blocks and small moves. Get in, get out. Only thing is, you have to pick a stock that trades enough to easily swallow your large share blocks. There is no way I'd take a 10,000 share block on something that trades less than a few million shares a day.
Scalping $1,000, $2,000 or more per trade makes the $18 buy/sell commission insignificant.
I like big share blocks and small moves. Get in, get out. Only thing is, you have to pick a stock that trades enough to easily swallow your large share blocks. There is no way I'd take a 10,000 share block on something that trades less than a few million shares a day.
Scalping $1,000, $2,000 or more per trade makes the $18 buy/sell commission insignificant.
Thanks for the answers, guys. I will almost certainly be talking to some of you in the future once I get my baseline reading done so that I actually know what questions to ask. I've never been one to trust the market (more due to my own ignorance than anything else) but I'm hopefully going to remedy that in the next few months.
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4K shares @ .48 :wink: Trading is light today...I think i'm done.
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NOW I AM PISSED!!!!!
I had in short order and apple was trading at 122~80 122~90 and those bastards filled it at 122.08. I called the broker. I am MAD AS HELL RIGHT NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If your broker filled you at the wrong price, they'll eat the trade. Now if you fat fingered it cause you're fuzzy from last nights beers, lol. :biggrin:
But then of course you don't drink!
They said they filled it at the right price but I don't think so. The bid ask was 80-90 cents above where it filled but on a minute chart the stock did trade at the price they filled my order at...guess what the exact amount of share my order was for.
Oh well I guess I get screwed. I asked for some free trades to make up for it. I have made it all back and then some so far today.
Whats up with SFI and FITB? I see the stop orders I put in went off on that today too.
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I don't keep an active eye on SFI and FITB...they just sit there collecting dividends. I don't expect the financials to start moving higher until the media announces that the financial markets crisis is over.
I wanna know what is up with GRMN. They are down 10% after a stellar earnings report and an equally nice 08 forecast.
Naa, My eur and gbp short did well yesterday.
Now I can buy a 2nd Corolla. Bought a Corolla because gas was pissing me off lolNaa, My eur and gbp short did well yesterday.
lol. Only you ryan. Only you.
I went to the TD Ameritrade Stockholders meeting today and was fortunate enough to have lunch with Joe Moglia and some of the board afterwards. And I even got extra credit for my class for attending... a win win all around.
Too bad I missed out on some tasty moves in the fx to clear my schedule!
After CSCO got crushed a couple months back after beating earnings slightly but a mediocre forcast, big money has been pulling out of tech, news or no news. It coincides with the first 'recession' talk and when the Nasdaq was way out of equilibrium against the other major averages. AAPL 200->122, GOOG 700->500, GRMN 120->60, RIMM 120->90 with the fantastic earnings, etc. I remember the options spread for that earnings play was incredible, you needed at least an 11$ move to break even.
AAPL sub 120 is becoming a value play. I dumped 10% in the 180's, 20% in the 190's, 40% when it hit upper resistance, and the last 30% on the way down to 180. I've been playing the 120 resistance bounces off and on.
There isn't any specific reason for each firm as to why they got the guillotine, just be looking for the bottom and don't fight the trend until then.
When gas is $5 a gal at the end of the year who will be laughing lol. I still get screwed on my watercraft though
Going back to this again if I had only 5k today and lost just 3% of it I would be a lot happier than I am right now. Not a good day today. I can't wait for my new set up to get here and I am throwing everyone out of this house for a week. Too many distractions today. That is one thing a lot of other people don't understand. Although you are home and appear to be staring at the computer you can't be distracted with stupid bull shit questions.
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Points taken. I am with you on AAPL as a value prospect in the 120's.
Not me I see 115 in the NT. We shall see
When gas is $5 a gal at the end of the year who will be laughing lol. I still get screwed on my watercraft though
I drive a 1.8L Mercury Tracer that gets 40mpg! :tongue:
I don't know about you guys, but i'm having a darn good day today. I shorted the USDCHF last night and the thing took some heat overnight, held my stop, I woke up this morning and within a half hour my target was hit for +56 pips.
At the same time i took a quick scalp into the AUSUSD for a +11 pip trade in less than 5 minutes. I'm literally a bit exhausted from changing all of the stops in my platform, recording all of the entries in my journals, all within a 20 minute time span...
Anyhow, i'm off to take a break and work out and eat before I hit it again this afternoon!
Hope your days are going even better! Cheers!
At the same time i took a quick scalp into the AUSUSD for a +11 pip trade in less than 5 minutes. I'm literally a bit exhausted from changing all of the stops in my platform, recording all of the entries in my journals, all within a 20 minute time span...
Anyhow, i'm off to take a break and work out and eat before I hit it again this afternoon!
Hope your days are going even better! Cheers!
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