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hi don,
i have one question, how fast do you get executions? i use waterhouse on the net
and i get about a 30 second execution which would leave me very unconfortable if
i am trying to get 1/16 or 1/8....
also, sometimes i am down and i use the broker which takes even longer..
i also trade my ira and it takes between 5 and 10 minutes because each trade
must be eyeballed by a f.c(ae),registered rep.
thanks
rich t
Don Green wrote:
> Today, I bought and sold 1000 shares of Sunw( Sun Micro) for a $250
> gain.because while reviewing many active movers in the market which I do
> each day, I saw Sunw had made a major drop this morning, after the market
> opening.
>
> As I have stated before I always trade in 1000 share lots. I am trading on
> margin. I trade with a $50,000 margin account which gives me $100,000 to
> trade with each day. I could trade with more, but I decided to limit my
> trading to make the math simple. So if on occasion I go past my $100K
> limit, if is usually for defending my position only. I wanted to short MSFT
> yesterday when the legal news came out, but since I had just bought into a
> stock I decided not to over extend myself.
>
> The amount of money isn't that important. You could do the same with $10,000
> or less. The only difference is the gain per point would be different.
> Remember it isn't how much you make, but your return on the investment that
> really counts!!! So I didn't do so good today.
>
> My intent is to pick-up one point each day in one stock. So I look for a
> stock the will do this for me.
> I average about 2-3 point of gain each week.
>
> Trading stock isn't anything more than reading the market. Remember what I
> said about 70-20-10. Today was a good example of this. The market was
> down, the industry was down, and the stock is in the dog house.
>
> BUT, I felt Sunw was in an oversold condition. So I bought it. I know if
> the market had been stronger I would have been successful. But that didn't
> happen so I got out with a small gain. When you watch the market for a
> long time you will see, momentum changes that occur each day. That
> generally tells you when to trade.
>
> Why, do I take the time to talk about my trading, I want to teach others.
> Maybe I should write a book!
>
> I also need feedback from others for both encouragement and for thought
> provoking comments to help me better understand why I do what I do and to
> keep motivated.
>
> When you trade like I do, it is you a computer screen and CNBC... I enjoy
> Joe Kerran, cynical attitude, but, hearing from other keeps me going. I
> often feel very isolated.
>
> So I hope this has provided a little insight into my trading process.
>
> Sorry for the short posts during the trading day....
>
> Any questions?
> Class dismissed.
>
> Regards
> Don Green
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