limestar
79 posts
msg #49371
- Ignore limestar |
1/18/2007 10:22:56 PM
Hey if you got 1 million dollars all you need is 3% PER MONTH to make 30k. From this thread that can be made easily in 1 hour with the right trade. With that capital you only need to snipe 1x per month.
360,000 for the year off of 3% per month.
The hard part for most people is getting to that million.
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Muddy
55 posts
msg #49372
- Ignore Muddy |
1/18/2007 11:33:53 PM
Tulanch,
You're very welcome.
If you look you'll see my HOKU post was 41 minutes before the open.
I got it from pre market volume % scan.
Also VEGF which I posted before the open to the chatroom:
(Jan 18-09:29) Muddy: VEGF mil shrs
(Jan 18-09:29) Muddy: of course HOKU
VEGF opened at .54/.55 and about 50 minutes before close hit .75
Yesterday there was STSI from pre % vol:
(Jan 17-09:35) Muddy: STST at 4
(Jan 17-09:35) Muddy: STSI*
In at a little over $4 cross,it ran to 5.33 hod,stopped myself out with 25%.
Also in the first half hour I got DSTI,my top fastk 2<5 watch that was rolling on the HOD list with vol spikes:
(Jan 17-09:51) Muddy: DSTI hod 2.79 fastk
So now in the last 2 days I've banked STSI 24% DSTI 19% HOKU 25% VEGF 30%
All trades were opened within the first half hour.
I agree 100% with TRO,Luc,Juha on trading in the first hour.
To these:
Average % of portfolio in a trade? ....depends on how well i know the stock, usually between 5-15%
Hard stops or mental stops?.... always mental
Set profit % or let run with trailing out strategy?... i never set a target,i trail them up.
Do you follow the no trading rule during first 1/2 hour and last 1/2 hour? ... I buy anytime except the last hour.
Do you prefer day trading options vs. stocks?.... Stocks only
I also swing trade with a 3-4% stop and will trail those up with the same.
In XING from Tues at 14,a 10 x's vol increase from previous day.
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sadelb
12 posts
msg #49373
- Ignore sadelb |
1/19/2007 12:04:30 AM
what program does everybody use? tradestation?
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nikoschopen
2,824 posts
msg #49376
- Ignore nikoschopen |
1/19/2007 5:02:32 AM
I'm a little late to the scene (as usual), and I didn't bother reading every post since I felt downright dizzy trying to absorb all the nonsense.
Day trading is a skill that belong to its own class. Some traders in their own self-righteousness think that day trading is some sort of modern day blueprint for success. With their testosterone-fueled hype of "just do it" mentality, all addressed with the same breathless excitement, they unwittingly subject themselves to the same cavalier disregard for safety. It's always about "how much can I make" and never about "how much can I (potentially) lose." In this game, only losers think they're endowed with multiple shots at redemption.
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luc1grunt
622 posts
msg #49377
- Ignore luc1grunt |
1/19/2007 6:05:33 AM
"Protect the base at all costs".
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luc1grunt
622 posts
msg #49378
- Ignore luc1grunt |
1/19/2007 6:06:00 AM
P.S. Glad to see you are posting Niko!
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markcrisp
187 posts
msg #49380
- Ignore markcrisp |
1/19/2007 8:17:26 AM
so why not end of day trade for 30-50% gains then?
------------------------------------------------------------------------------
Hey if you got 1 million dollars all you need is 3% PER MONTH to make 30k. From this thread that can be made easily in 1 hour with the right trade. With that capital you only need to snipe 1x per month.
360,000 for the year off of 3% per month.
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luc1grunt
622 posts
msg #49388
- Ignore luc1grunt |
1/19/2007 2:02:09 PM
didn't get a whole lot of responses to the original post? I'm curious to the scalpers.....?
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juha
52 posts
msg #49391
- Ignore juha |
1/19/2007 3:15:38 PM
sadelb, you asked about what program some traders use?
I use free pre-market scanner from http://z2jd67ssf126s009yyteh12bxx0.nasdaq.com/data/toplist/toplist.jsp?filter=all&width=555&tabs=false&links=true&sort=tradedshares&order=asc&html=true&ah=false&rows=50
and finance.yahoo.com for checking news and average volume, that's all. In my trading platform I use only price chart without any indicator. and sometimes I correlate my entry price with volume available at different price levels at Level 2 quotes.
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rtorrey
8 posts
msg #50729
- Ignore rtorrey
modified |
3/29/2007 4:28:48 PM
Markcrisp
I know quite a few traders who do 100% per month.
BUT they can't compound...
which is part of the problem.
There is only so much stock available at each price level. Guys can scalp 100-1000 shares easily. Once you start getting into the 5000+ share amounts there is massive slippage.
Also what works this year doesn't work next year. Markets change, rules change.
Systems that used to work really well are no longer useful.
I used to make 150% a month on my account back in the day with Risk Arbitrage.
When AOL was buying Time Warner it was with a stock merger. So if a Mutual fund bought 20,000+ shares of one. I had orders out to short that stock and would immeadiately cover by buying the other side of the merger. The large order put prices out of line. Yeah I could scalp .03-.25 on 100-4000 shares playing the spread. But that's it. This will NOT compound... and the more who know what is being done. The less opportunity for me.
Then the crash continued. Bullets became the great thing.(allowed an individual to short without the uptick rule and general public COULDN'T buy them) Find a large short in a low liquid stock buy bullets and jump in front of the short seller. Really profitable.
Again limited in size. Yeah I could get 500-1000 shares. Remember I'm trying to short a stock that trades 200,000 a day probably and using the 10,000 short sale lot as my protection. That game is now gone.
Then after bullets were taken away it was great to short news stocks and use the ECN's to get short on NYSE. Without bullets the stocks trended down really well. Well all the ECN's have been bought out and Hyprids are now in play. Really fast fills but the game changed again.
Then playing the gaps using broker margin became one of the trendy things to do. Placing 200 buy orders and 200 short orders to be long /short gaps that moved. This was really profitable for awhile. It required broker margin to do this.
20 (x) margin. But as more and more learned of this. The gaps got smaller and smaller and so we were the big fish.
These games are gone now.. hence I can talk about them.
Plenty of ways to make money, with many different time frames.
Just realize Short term that takes advantage of massive imbalances can't compound easily.
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