This site is not meant to be technical/fundamental or nature. It is not meant to be informative. If that's what your expecting.. your in the wrong place. This site is meant for those who want to see what it's like to be inside the mind of a trader so if ever you want this to be your full-time job/carrier, you'll have a better idea. I'll be posting my psychological battle with the market everyday! I hope you'll be here. This blog will likely last 1 year long, and will have a different lesson at least once a week.
First of all, I'm a trader who trades high-frequency.
Today, I start off my lesson, with lesson #1
LESSON #1: LOVE turns INTO HATE.
Everyday, the market trades, however it is never the same. One day you'll get really good fills, [for example, you'll be bidding 1.15 on CIT, and you'll be filled and the stock will jump to 1.17.. that's 2% in a matter of seconds..] other days, you'll be making no money whatsoever. What's up with that????
The market is up to get you. With stocks as volatile as GE, if ever your up money intra-day.. take the money and RUN!
That's the market folks. YOU BETTER get used to it.
BTW, I was short 5,000 shares of FRE at 1.20.. I quickly covered.. In instances like that you have too.. WHAT IF it went up another 20%? I would of been done for the week !!
Myth: Good Traders can trade ANY Stock .. therefore a good trader would not be in FRE.
Fact: This is true. There is no one else to blame except yourself for trading volatile stocks and losing $. YOU ARE TO BLAME. If you don't want to lose tons of money, stick to SRS,QQQQ, if you want to lose tons of money trade GE & RF & MOT & DRYS..
How was my day today in trading?
Growth $200
Net ($400) -w/fees
Stocks and my emotions towards them::
FRE -- Argghh!! 20% swing in matter of minutes!
C -- Manipulated POS..
CIT -- Love at First Site!!!!!
S -- Pretty !!
RAD -- Scary but Tasty !!
Emotions Feeling Right Now:
I really have no clue how I traded 500,000 shares in a day!
I have to stop trading so many shares!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
''It's never too late''
Most traders are saying 'IT'S TOO LATE TO GET LONG' -- incorrect!!
Some dumb f*** specialist was messing with me when I posted 5000 shares to go long on ZQK today. He attempts to swipe me.. I cancel.. and then he moves the stock up 3-5%. When you get to post enough shares.. some MM/Specialists see you and ARE there to get you.
Watch your back in the market.. Every second you could be losing money. Risk management IS everything. Without stop losses you might as well not trade. This was a fairly large post.. however with the loss I took today, I needed to vent it out. This feels better. I hope you guys can post your trading day with your daily emotions on my comments. It can be theuraputic!
Trading Plan for Tomorrow::
Trade no more than 200,000 shares intra-day. Trade no more than 3 stocks at a time (I mean I've had times I was long 10,000 shares when the market was dumping. If your not paying attention, this can ruin your day!)
Don't have a bias on the market!!!!!!!!
If the markets dumping, start shorting!! It's never too late to go short/go long.. this is a myth.
The best example for the the 'it's too late to go long' is seen in the DJIA. People have been saying forever, the market is overvalued.. What keeps on happening? WE go higher!
Don't have a bias on the market!!!!!!!!
If the markets dumping, start shorting!! It's never too late to go short/go long.. this is a myth.
The best example for the the 'it's too late to go long' is seen in the DJIA. People have been saying forever, the market is overvalued.. What keeps on happening? WE go higher!
Stay strong peeps!
