Trading
Daytrading I don't do a lot. Today it made sense. It also
made about $2000 (after $90 for three round trades) on 300
shares each of MSPG, LCOS and XCIT.
The open Position trades have been around for as little as
yesterday and as long as 9/9:
PETM 9/9/98 5.875 7.875 2 34.04%
PIXR 9/21/98 36.5 45.875 9.375 25.68%
AOL 9/21/98 95.5 115.25 19.75 20.68%
AMD 9/21/98 17.25 20.9375 3.6875 21.38%
ZITL 9/21/98 3.062 3.1875 0.1255 4.10%
TEAM 9/21/98 7 7.5 0.5 7.14%
DIMD 9/21/98 4.875 5.1875 0.3125 6.41%
IFMX 9/21/98 4.875 5.0625 0.1875 3.85%
PXD 9/9/98 14.312 14.75 0.438 3.06%
PNF 9/21/98 2 2 0 0.00%
At 300 shares of each that is about $10 grand profit after
trading fees in 11 trading days. That doesn't count the other
18 stocks purchased and sold between 9/3 and 9/21 - those made
about 12% after fees. My fees run an average of about $20/trade.
Since the start of this account, I have had 32 stocks, one lost
money, and one is breaking even. However, this has been a good
month. I generally have about 15% that lose money or I exit flat.
Last year I made traded 149 stocks. This year I will trade about
200. In terms on not getting excited about 1 or 2 points on a $100
stock, I couldn't agree more. However, Position Trading (which is,
after all, what this thread is for) called for an entry on AOL at 95.5.
Its now 20 points up and time to look for an exit.
We talk about some daytrades here, and the Gaps are playable best
intraday, but it is an end-of-day method. What makes the most sense
for you really needs to be qualifieed by what tools you have at
your disposal, what time you have to trade (intraday, occasional, end
of day only) and what your risk and account size are. But you bring up
a very valuable point. To make $100k a year one needs to make $400
a day minimum. One isn't going to do that easily on a $25k account.
But then one shouldn't attempt to do that until they define a method
that is manageable, profitable and consistent. Hopefully that is what
we are trying to help others learn here.
Thanks for refocusing us.
lastshadow |
