I'm in da room and find it really useful. I think you should only use a portion of your total capital. If you are trading 100K then you have 200K (margin) to trade with daily, but that would mean you should have a separate portfolio of much much more.
The useful thing is Jerry watching the futures for us and keeping up a running monologue on stocks, their trigger points, price and volume...it helps you know when to get in and out. The point is also not to get greedy but to feel safe, cash each night, enter the day ready to trade whichever way...
I have to figure out how to best do it but you don't have to do it everyday, and if you make your day's pay in the first hour then you can take time off and do whatever you please.
The hardest thing is to control your emotions--to take your profits. You'll notice your emotions when you're in da room, and notice that on days you control them you make good $.
I use FIdelity which is not the greatest, but anyway, most brokers should have downloadable transactions, downloadable into your spreadsheet for tax purposes.
I haven't learned to short yet but Jerry says he will teach. He has taught other sin the room.
Teresa's input is utterly invaluable--her ability to read the market nad her technical expertise are superb, really superb.
The point is to set tight stops on either side (short or long)--your cmrc short should have had a sell stop, you'd have gotten stopped out when it reversed up....da room emphasizes this |
