However, I'm not convinced trading is best choice
To each his own.
I guess I lean more toward long term horizons.
If that is what works best for you, then I am happy. You should stick with it.
But my methods are a little more risky. I have about %50 of my equity tied up in an IRA mutual fund and a very few income stocks, such as BDK, T, PBY, and looking for some others at the moment.
My real money comes from my trading equity:
80K so far this year (part time) on not much more equity is not small change.
I'll pay those taxes thank you.
Say we sell at 8.5 and the stock moves to 10 over the next week. By selling, we made 320 but lost out on larger potential gain
As I was on record as to calling a reversal the day it happened, I also stated that I believe the stock would go up farther, just not this time around. Sell on the peaks, and buy back on the dips. TA assists you to do this. Hardly with 100% reliability, but it is better than 50%. I could have easiliy sold at 8 5/8 (or more...but I did'nt choose to wait), and bought back at 8 1/8 today. That's a 7% gain, and then on top of that I get my 10 at a later date. Who said anything about losing out on the whole gain.
My total trade cost for PTIS:
$20 buy broker fee 4-5 days ago...I'm not sure.
1500 shares X $8
$20 sell fee
1500 shares X $8 5/8 today.
$900 dollar profit off one trade.
I also sold GVIN today (purchased yesterday, sold yesterday, bought yesterday at close again to catch gap up this morning....check my profile for the exact times...It's posted)
for a total gain of 9/16 on a $2 7/8 stock for a total gain of $1080 after commissions. I sold no other stocks today. Not a bad take home for 2 relatively risk-free investments using TA. $2000 today on a total equity of $18,000. That money has been re-invested in 2 other stocks and back into PTIS. The others probalbly won't do as well, being that the breakouts I was expecting has not happend, but non-the-less I should be "in the money" again friday close.
BTW since I sold GVIN, it has fallen by about 15%, as PTIS has fallen by 7 since I initially sold.
I am not alone, in fact, I am in a league way under that of many (most) of the traders I have seen on SI. If you are still interested in digging further, Check out Lizard's thread (Lizard posted to me today on this thread today I believe.) There is lizard and 2, maybe 3 others who post time to time that are very dynamic in the trading skills.
exchange2000.com
Another good thread with lots of good stuff is Steve Goldman's From the Trading Desk"
exchange2000.com
Read it end to end.
PRB
|
