Stock Market

Ryanmcd2 said:
Here's a chart look @ 11:00 and tell me what the price was on Monday, stop bullshitting us, that software you use is a simulator and I bet it's free. I am done with you it's easy to make millions on paper ask anyone who has traded REAL money.
Paper-trading is no fun! :p Although...I did make over $50K in a couple of hours paper-trading with upto 400 lots on ES :D

-Awais
 
O-Ace said:
Paper-trading is no fun! :p Although...I did make over $50K in a couple of hours paper-trading with upto 400 lots on ES :D

-Awais

...and in real life would you risk that kind of cash????
 
lolrof, change the chart from line on close to bar chart to see the real price. lolrof you need to stop before you get killed trading, at least learn how to look at a chart.


Jinkers said:
The charting software has a 30 day trial which I'm currently in, but I paid for the streaming market data. I honestly don't know whats going on with my chart.
 
Thanks. Despite the fact that you are incredibly angry for some reason, I have learned a lot from you and things are going well, believe it -or not as the case may be.

In addition, a comment like these
I am done with you it's easy to make millions on paper ask anyone who has traded REAL money.
lolrof you need to stop before you get killed trading, at least learn how to look at a chart.
are irrelevant, as I've said I'm retired and I find the markets interesting. I'd like to become profficient at trading because of the challenge involved, not to make more money, so bear that in mind, this is a learning experience for me, and as such I don't get quite as hyper about all the details, I'm learning as I go.
 
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steveny said:
...and in real life would you risk that kind of cash????
Obviously not. But then again, in real life I don't make $50K in a couple of hours either :D
 
I did some serious ass handing today on osip. Look at the low high on the stock and on the March 40's. I was long, then short made a ton of cash. I am not complaining but too bad its all in my retirement account and can not be touched for quite some time.

Anyone follow PMCS???
 
I am not mad at all, and hope you do well in the markets. It just pisses me off when people say trading is so easy and never have done it, or do it and lose there asses and SAY they made this and that. It took me 3 years and 10's of thousands of $$$ in losses before I made anything, then I got a mentor who makes well over 1 mill a years doing this for the past 20 years that's when I started to make money. Also if you are a "pro" you still can lose your ass, Derek Lenord had a NSX, 8 million $ and played the market, he lost everything and is now in Jail.


Jinkers said:
Thanks. Despite the fact that you are incredibly angry for some reason, I have learned a lot from you and things are going well, believe it -or not as the case may be.

In addition, a comment like these
are irrelevant, as I've said I'm retired and I find the markets interesting. I'd like to become profficient at trading because of the challenge involved, not to make more money, so bear that in mind, this is a learning experience for me, and as such I don't get quite as hyper about all the details, I'm learning as I go.
 
Futures only man, ES. I did pull the chart for the hell of it and nice job! Hope you bought close to at the money on this one lol. :-)


steveny said:
I did some serious ass handing today on osip. Look at the low high on the stock and on the March 40's. I was long, then short made a ton of cash. I am not complaining but too bad its all in my retirement account and can not be touched for quite some time.

Anyone follow PMCS???
 
Kicking butt big time the last couple of days. ready to take a break and spend some of the intake. Made some pretty risky bets that paid off quite nicely.

If Gern makes it to 8.75 today I will be a very happy person.
 
I just had the most ANNOYING thing happen to me, I was long in the ES with 4 contracts, and my P&L went to $200 on a move up so I decided to scale out ONE contract because I'd been having a poor day and I was at $0 so I wanted to lock in a little profit. Unfortunately I'd forgotten to put lots back to 1, and I accidentaly sold all 4 contracts, right before the price went up another 2.75 points. Oh well it was my stupid fault. :mad:
 
Well, it finally happened, I had a SPECTACULAR loss today in the ES. Get ready for this.......... 16 POINTS! After lunch I was up a little total, then I did a trade that triggered my stop loss of 2 pts, no big deal, but on my final trade of the day I decided I wouldn't put in a stop because I wanted a little flexibility on the loss...anyway, I went for a quick shower, came back to a 7 pt loss and being a stupid amatuer I basically let it fall the rest of the way to 14 pts at close, always thinking it would bounce back...Anyway, to punish myself for lack of discipline I'm taking a week off and resuming next monday back to 1 contract at a time. THIS SUCKS! But I'm paying my dues...
 
It stinks, but I'll live, its actually good education- I can GUARANTEE I will NEVER ever, ever enter a trade without a hard stop in place again.
 
I did well today. Bought in this morning and sold after lunch. I had a sneaky feeling the "recovery" was no more than shorts covering. I even told a friend on the phone I was sure the market would collapse by the end of the day. I made a grand then left the house. I will be a buyer tomorrow morning for sure.
 
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Steveny...You tha MAN!!!!!

Jinkers..sorry to hear about you losses...been there, done that...and many more:D

Been on the sidelines for a couple weeks, with having to move and other things.....looking to get back into it when things are settled and I can focus without distractions.
 
I wish

You guys make it look so esay. I do not consider myself to be a total imbecil but this is all greek to me. I alwyas wanted to learn the trade but it seems impossible. Are there any books I could read to begin to understand what you guys are doing.?
 
Re: I wish

saxonsaxon said:
You guys make it look so esay. I do not consider myself to be a total imbecil but this is all greek to me. I alwyas wanted to learn the trade but it seems impossible. Are there any books I could read to begin to understand what you guys are doing.?

I learned everything off the internet. If you think I don't lose on occasion, your wrong. It is near impossible to win every time. I am up about 5k this week and around 2k the week before but I may lose it all back next week, who knows? Try a simulator for a while to see how that goes. If you do trade with real dollars use tight stops until you get the feel for what you are doing. After you get the feel for what you are doing, then use tight stops still, don't get greedy. As soon as greed is implemented into your trading system you will be taught a huge lesson. Most people are like "oh I just made 250 on a 1000 block trade next time I will go 5k block trade", that is when the equity goes down .25 cents and the buyer holds instead of taking the 1250 loss thinking it will snap back and before you know it your down a buck a share and out 5k in funds. Not fun, been there done that. I trade large blocks 1k-10k for a .10 to.25 rise or fall. Either way I am selling when it hits my price point. I am not going to hold on to a stock or option and say "it will pop back" sell take the loss or the gain and move on. No one has ever gone broke making a profit , whether it be 10 bucks or a thousand bucks. On Friday I made 4 trades. 1st one brought in 420.00 bucks, second one brought in 175.00, third one brought in 310.00 fourth one brought in 35.00 bucks. total of 940.00 in. Not to bad for a days "work". The 35 dollar trade would seem ludicrous for some but to me it is a profit. Its like a fee tank of gas. It is better than holding out for a 400 dollar gain and instead the market moves the other way and I end up taking a 400 dollar loss. I eat the elephant one bite at a time. If the bites are small so be it.
 
Re: Re: I wish

Perfect post and I know you make money just by reading what you posted. Most people want to go out with there friends and tell them the "Gran slam" they made but don't talk about the 8 loosers before the 1 big winner. I play 20 contracts on the ES and look for 3-5 points a day, I don't WANT 10 points and I don't want to play 100 contract either. make 3-5 points a day and once I do I am done, most day's are 3 hour days. Also you will lose I do almost everyday, I lost 8 out of 10 for the 1st 3 years before I found a good mentor. Bust you ass and it will pay off, now I can get anything I want and then funny thing is the more I make the less I spend. lolrof Anyway work hard read the 30 books like I did, spend 18 hour days looking at this stuff. Read all the charts back to 1991, and PAPER TRADE YOU ASS OFF. if you lose figure out why, don't worry about makeing more it's the loosers you need to worry about. Also when you start playing real money and lose the only thing different is emotion that's IT. Good luck and not everyone can do this. I know people who use the SAME thing I do and still lose, I also know people who have been doing this for 12 years and they still lose and never have a profit for the year.....



steveny said:
I learned everything off the internet. If you think I don't lose on occasion, your wrong. It is near impossible to win every time. I am up about 5k this week and around 2k the week before but I may lose it all back next week, who knows? Try a simulator for a while to see how that goes. If you do trade with real dollars use tight stops until you get the feel for what you are doing. After you get the feel for what you are doing, then use tight stops still, don't get greedy. As soon as greed is implemented into your trading system you will be taught a huge lesson. Most people are like "oh I just made 250 on a 1000 block trade next time I will go 5k block trade", that is when the equity goes down .25 cents and the buyer holds instead of taking the 1250 loss thinking it will snap back and before you know it your down a buck a share and out 5k in funds. Not fun, been there done that. I trade large blocks 1k-10k for a .10 to.25 rise or fall. Either way I am selling when it hits my price point. I am not going to hold on to a stock or option and say "it will pop back" sell take the loss or the gain and move on. No one has ever gone broke making a profit , whether it be 10 bucks or a thousand bucks. On Friday I made 4 trades. 1st one brought in 420.00 bucks, second one brought in 175.00, third one brought in 310.00 fourth one brought in 35.00 bucks. total of 940.00 in. Not to bad for a days "work". The 35 dollar trade would seem ludicrous for some but to me it is a profit. Its like a fee tank of gas. It is better than holding out for a 400 dollar gain and instead the market moves the other way and I end up taking a 400 dollar loss. I eat the elephant one bite at a time. If the bites are small so be it.
 
Set rules for yourself, if you don't follow them STOP TRADEING. I have NEVER lost that much in a day and if you were trading like me that would be 16k and VERY foolish. Greed kicked your ass as well as changing what you are doing. Making money is boring; losing is more exciting as you can see


Jinkers said:
Well, it finally happened, I had a SPECTACULAR loss today in the ES. Get ready for this.......... 16 POINTS! After lunch I was up a little total, then I did a trade that triggered my stop loss of 2 pts, no big deal, but on my final trade of the day I decided I wouldn't put in a stop because I wanted a little flexibility on the loss...anyway, I went for a quick shower, came back to a 7 pt loss and being a stupid amatuer I basically let it fall the rest of the way to 14 pts at close, always thinking it would bounce back...Anyway, to punish myself for lack of discipline I'm taking a week off and resuming next monday back to 1 contract at a time. THIS SUCKS! But I'm paying my dues...
 
If you can remove the P&L, money should not matter, do it by points and you will be better off.


Jinkers said:
I just had the most ANNOYING thing happen to me, I was long in the ES with 4 contracts, and my P&L went to $200 on a move up so I decided to scale out ONE contract because I'd been having a poor day and I was at $0 so I wanted to lock in a little profit. Unfortunately I'd forgotten to put lots back to 1, and I accidentaly sold all 4 contracts, right before the price went up another 2.75 points. Oh well it was my stupid fault. :mad:
 
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