Tuesday, November 23, 2004
Tuesday
Several trades this morning and zero, nada, nothing going on this afternoon. So a good time to blog. My pick of the day is ELAB, bought on the Open today and I'm holding most of my position for a few days at least, maybe weeks. That leaves me holding, in addition to ELAB, LPSN, WSII and TINY as day-trades evolving into position trades. What's that all about? I don't know, but they're all going in the right direction.
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8 comments:
Greg, there is no easy answer to your question, but how about a question to your question? If you can make 1% per day on your account, i.e. on a $50K account make $500 per day (about 250 tradng days a year), can you make enough? Then you have to figure in leverage from daytrading margin, then figure out all your mistakes. See, I told you it's not an easy question to answer. But it's a start.
Hey Allan and Greg, I am hear, as I suspect others are as well. This is going to fun, glad you are sharing Allan.
Mose Kiser
mose@aura-tech.com
ahh..that is "I am here", rather than hear. However, hear is what I am to do.
Allan, looking at PCU tomorrow, have an order in tonight that is not hitting...any thoughts?
Mose, I hardly ever mess with after-hours or pre-markets anymore as there is plenty of opportunity in regular market sessions where liquidity lends itself very well to my methods. Glad you're aboard.
"Does this seem realistic using your system?"
As for my system, yes, my daily real time. real money, average going back 18 months is well above that threshold. But it is important to understand the ground rules, that whatever methodology you chose to trade needs to do that well to accomplish your goal.
BTW, when I posted ELAB yesterday as my "Pick of the Day" it was around $24.00 a share. I had gotten in ELAB earlier at a lower price. But as I type this Wednesday AM, ELAB has just printed $24.50, 2.5% above the $24.00 blog price. That's not to say that I was recommending anything yesterday, only that you don't have to move mountains to average 1% a day, just string together a bunch of nice little gains. That's the mind set it's going to take to be a successful day-trader.
Make that 2%, not 2.5%.
Make that +4%, ELAB printing $25.
yo Greg! Happy Thanksgiving to you and A. Been around doin the livin thing. Hope all is well with you and the brood.
Mose
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