mesayah
658 posts
msg #87523
- Ignore mesayah |
1/31/2010 4:38:06 PM
right. If you have the time to set your stop loss with that thing bouncing around like crazy and if you set a mental stop, good luck.
|
cwn6161
40 posts
msg #89080
- Ignore cwn6161 |
3/4/2010 2:34:04 PM
Anyone still doing this?
FCX, RIMM were two I milked this morning..
|
sbuck143
88 posts
msg #89088
- Ignore sbuck143 |
3/4/2010 5:37:40 PM
very interesting strategy. I will admit I only read about 5 pages in before skipping to page 80 and reading from there.
Where did "sell after .50c" get changed from the initial posts "sell after 1.00"?
|
cwn6161
40 posts
msg #89128
- Ignore cwn6161 |
3/5/2010 9:45:59 AM
I don't remember ever seeing a sell after 1.00
The stats are based off of a 50 cent+ move after the stock moves 10 cents, so I normally just shoot for the .5 mark from the open. Then again, I'm just starting the method this week, so I'm going slow.
|
stratiG
147 posts
msg #89130
- Ignore stratiG |
3/5/2010 10:00:37 AM
yes, the stats are based on +-.50. I suggest you go back and read all the posts.
|
cwn6161
40 posts
msg #89158
- Ignore cwn6161 |
3/5/2010 1:50:57 PM
stratiG
Where are you setting your scalp takes at?
I'm currently shooting for 40 cents to take profits - but I just read how you set a scalping point and then move your stop up to breakeven. That's a good idea, especially after I see myself getting stopped out twice this morning on FCX, where I could have made cash if I scalped.
|
sbuck143
88 posts
msg #89166
- Ignore sbuck143 |
3/5/2010 3:33:02 PM
okay I see that now it's been a 50c target all the way but I'm getting the feeling this is a "big fish game"?
stocks for me are a roundtrip $10 up to 1000 shares, so on a $200 stock like AAPL, scalping 50c a share, it's a minimum of $8000 to make $10 after commissions, and closer to $20k to get commissions down to a semi reasonable % of your profit.
I'm a long long way from throwing 20k at a position, but is it the tight stop that keeps you out of trouble?
|
sbuck143
88 posts
msg #89168
- Ignore sbuck143
modified |
3/5/2010 3:47:58 PM
n/m
|
cwn6161
40 posts
msg #89171
- Ignore cwn6161
modified |
3/5/2010 3:53:22 PM
Find a new broker, or find a prop trading firm. 5k to start with, and 10-1 leverage makes things a lot easier. If you are starting a new method, you want the ability to trade with small shares and not get killed by comission. For me, comission is about $1 every 100 shares, roundtrip.
The zones are exactly what keep you out of trouble, because you know exactly how much you can lose max. I trade 200 shares, so I know that I'm risking 30-40 dollars a trade.
|
cwn6161
40 posts
msg #89172
- Ignore cwn6161 |
3/5/2010 3:54:45 PM
If the stock doesn't move to fade the gap, skip trading it. There is more than one cow in the barn to milk from :)
|