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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (4659)	7/11/1998 10:15:00 AM
From: Susan Saline	Read Replies (2) \| Respond to of 12617

>>>Also remember that almost everyone paper trades at a profit and real trading is very different. The reason being is that it is virtually impossible to simulate the problems you will have executing trades and the corresponding stress that effects your decision making. I will share with you all, an execution that did NOT happen This is a fine example of the difference between REAL LIFE trading and paper trading. UCMP - Friday I hold this about a month, at the price of 4 7/8. It is one I position trade on a regular basis. I also hold it in a real time portfolio on SI, as a trading contributor on the Z thread, short term trading, at the same price It took a slow fall to under 3.00, in that month. As I know the trading of it quite well, I know it moves on news. So I wait it out. It moved Friday ... very fast ... up 100% Finger is poised to push sell button, after the initial run-up ... at $6.50 .... I push sell ... wait one long minute for the confirm .... it does NOT arrive. $6.00 phone broker to confirm ... all lines are busy I see 5.75 I see 5.50 5.00 broker gets on line ... now what to do ... profit gone Very angry, I hang up, turn off the computer .... I give up and this, my friends, is the difference between a paper trade and a real trade. I do not need a recommendation to get another broker/brokerage ... that's pretty clear. This is the second time this has happened to me... so no lectures are nescessary :o( anyways....I know many Z-ers follow this thread and maybe wonder why I did not sell UCMP yesterday ... and this is why Sue ... realism is a lot harder than pretend

To: TFF who wrote (4659)	7/11/1998 11:04:00 AM
From: TraderBoy	Read Replies (2) \| Respond to of 12617

Irby, Thanks for the reply - basically, the way I've been paper trading is that (and I think I read this somewhere, maybe on this thread)when I determine an entry point and it hits, then I wait 20 seconds - if the ASK hasn't moved, then I assume I got in the trade at the ASK (if I'm going long). As the stock moves up, I've moved my fictitious mental STOP up making sure I at least clear the spread. Once I clear the spread, then I let it run, moving my fictitious mental STOP up along with it - usually about 3/16 behind the BID. Once it stalls, then I fictitiously sell at the BID - I wait 20 seconds and whatever the BID is at the time, that's what I write down in my journal. I assume that would be how a Market Order would perform. My main analysis has been CNBC for the reasons WHY a stock is doing what it is and then I've scanned for the top 10-15 high volume stocks. Then, I look at daily charts - looking for any major support/resistance points. Then, 30 minute, 10 minute and buy when the 1 minute ticks the way I want it to. The whole time, keeping an eye on Times and Sales, looking for momentum. 9 months ago, I couldn't even spell STOCK, so I've learned a great deal from this thread and others. I feel like I've completed my High School equivalency of Daytrading and am ready to move on to a higher level education - hence, the Insight Daytrading course question on an earlier post. It would be worth $2500 to me to make sure I've mastered the little things, plus the software - Level II, etc. - they use Cybertrader and offer remote trading. They are similar to BLOCK or ATTAIN or any of the others. Once I've mastered this, hopefully 3-6 months, then I'll go remote, either with them or an A.B.Watley or MBTrading. Irby, shoot some wholes in this plan - I'm consumed with learning this great business, and I don't want to go down too many wrong paths to get there. Thanks, in advance - sorry for the long winded post! TraderBoy