Official Let's Make Some Money Off Stocks Thread...
12-29-2003, 06:40 PM
#602
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Location: Land of the landeaus
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I get a lot of e-mails from friends and the like looking for stock tips. I've narrowed down that list down considerably because I was spending more time on e-mails then DD. Those who I continue to respond to know they're in the loop.
Anyways, FWIW, here was today's results from daytrading. This is usually the
number of stocks I'm playing at any one time. I won't get into the fiscal position but
I play for a 1.5% profit on each stock based on the entry price. If I hit the limit
price on a sell order, depending on the liquidity of the stock, the profit is usually $175-250 each. Any loss is held to 2% off my entry price to allow for some retracing and selling. Sometimes, if a stock is really running, I won't enter a sell limit and just watch the T&S (time and sales) to see when things are leveling off.
It's not entirely common to see all this green but on the good days, with pattern day trader margin money at the ready (very dangerous....only recommended for experienced traders), it's not entirely unreasonable to see a screen like this and finish the day $2,000
in the black, minus commissions. I didn't do quite that well today because I didn't time all the buys perfectly (that NEVER happens) but the profits far outweighed the losses...probably four to one. I just thought you regulars in here would sort of
get a quick appreciation for how much work I put into this stuff. I don't post recommendations here lightly. Good luck fellas...good trading! Remember....January is usually a strong month for the market. Lots of optimism for the new year.
Money to be made! Do your DD.
Sorry for the large size, but it was the only way to keep things legible in jpeg format.
Anyways, FWIW, here was today's results from daytrading. This is usually the
number of stocks I'm playing at any one time. I won't get into the fiscal position but
I play for a 1.5% profit on each stock based on the entry price. If I hit the limit
price on a sell order, depending on the liquidity of the stock, the profit is usually $175-250 each. Any loss is held to 2% off my entry price to allow for some retracing and selling. Sometimes, if a stock is really running, I won't enter a sell limit and just watch the T&S (time and sales) to see when things are leveling off.
It's not entirely common to see all this green but on the good days, with pattern day trader margin money at the ready (very dangerous....only recommended for experienced traders), it's not entirely unreasonable to see a screen like this and finish the day $2,000
in the black, minus commissions. I didn't do quite that well today because I didn't time all the buys perfectly (that NEVER happens) but the profits far outweighed the losses...probably four to one. I just thought you regulars in here would sort of
get a quick appreciation for how much work I put into this stuff. I don't post recommendations here lightly. Good luck fellas...good trading! Remember....January is usually a strong month for the market. Lots of optimism for the new year.
Money to be made! Do your DD.
Sorry for the large size, but it was the only way to keep things legible in jpeg format.
12-30-2003, 09:59 PM
#604
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Russ, when do you think I should unload SIRI? Some people on Yahoo recommended waiting to $5, some said keep it forever, some said dump now. The ratios (if you look at it from B-School point of view) are terrible, but then again, stuff like this is always more speculation 
