bp has given my personal holdings a nice boost. Trading wise, a lot of the securities I trade daily took severe downturns the last few days. I have survived but it knocked a third off my trading profit for this month.
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How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
Fidelity
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- 18 July 2005
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Ib.
They require me to qualify for their gold commission level, which means $1 million with Fidelity or 120 trades per year. I'm not a millionaire nor do I perform 120 trades per year.
I might just have to work by phone, which isn't necessarily THAT bad if I'm only trading very occasionally. I just prefer to be able to initiate trades immediately, online, regardless of my location.
Interactive Brokers? If so, they actually look quite cheap and easy. I'll look into it. Thanks!
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Another way to remember Interactive Brokers is...
s the est. That's what I use to place trades if my system at work screws up or if I cannot get shares here without paying a fortune.
They need $10K from me to open an account. I only want that account for Canadian trades and I literally am only planning on putting about $2K into a particular stock. It's a junior oil company my Dad is drilling for and they've hit two consecutive major wells that will effectively double their oil production and raise gas production by 25%, with 68 more well options in the same area, so there is big potential for a jump in their stock given their relatively moderate performance this year. Shares are about $1.12 each so I can grab a thousand or two without issue and walk away from it all if I had to.
I suppose then you'd have to move your entire 'operation' to IB.
A tip from a 'professional' to a home gamer (as far as I know), if you are entering a trade and your strategy is it goes up "infinity" or you "lose it all", you are probably looking for excitement as much or more than profits.
I'm not claiming that it's not a viable strategy (risk 1 dollar for 6 could be a great trade if you actually hold the entire position), just that this sort of trade usually, not always, represents a gambling mentality. You seem to know your key statistics on this particular trade and it may not apply at all but just some friendly advice.
A tip from a 'professional' to a home gamer (as far as I know), if you are entering a trade and your strategy is it goes up "infinity" or you "lose it all", you are probably looking for excitement as much or more than profits.
I'm not claiming that it's not a viable strategy (risk 1 dollar for 6 could be a great trade if you actually hold the entire position), just that this sort of trade usually, not always, represents a gambling mentality. You seem to know your key statistics on this particular trade and it may not apply at all but just some friendly advice.
Absolutely agree with you. This isn't a "go up to infinity" trade, either. I know what I want out of it and I'll take it and run if it gets there. I'm about as methodical as you could imagine for anything I do but I also realize I could lose a fair chunk of this money if the energy market dipped quickly like it did last time.
I feel that the energy market is artificially high right now and that means that there is some potential for volatility/a precipitous drop in prices virtually at the drop of a hat. We've seen $10 swings on oil in a one-week period in the last few months, as well as near doubling of natural gas prices within a three week range. That's what I meant by "losing it all" - it was a figure of speech, not my strategy or willingness to sacrifice my money.
I have dry powder :biggrin:
but will tell you, the daily swings are tough to swallow lol...entire week of bleed was getting old! I needed a day like today.
- Joined
- 18 November 2004
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GRMN and TOM2 have been beaten up pretty badly the last two days...hope they've got something up their sleeves to counter GOOG. Kind of scary how much power they have.
http://www.engadget.com/2009/10/28/google-navigation-video-hands-on-you-want-this/
http://www.engadget.com/2009/10/28/google-navigation-video-hands-on-you-want-this/
Hope you guys are not all aboard that pain train. Bounce is probably coming any minute now but that mentality is why we keep seeing the red candles getting longer and longer.
My guess is we will probably head lower. A REAL unemployment rate of over 16% is no joke. Continued foreclosures and credit defaults as well as commercial real estate are impending issues that in my opinion have not been really addressed yet.
Anyone with the background and capability to calculate it has known the rate has been in excess of 15% for at least two quarters now. This includes anyone managing enough money to move the markets. It's not the fed's fault for not adjusting the variables used as they are usually fairly accurate; it's an art as much as it's a science.
Just shorted three dump trucks worth of BAC at .05-.07 (12:21), have to keep this one real tight. Haven't seen a red candle on the vix in 3 hours.
Just shorted three dump trucks worth of BAC at .05-.07 (12:21), have to keep this one real tight. Haven't seen a red candle on the vix in 3 hours.
That didn't take long. Still have full position at .86.
Well took off half at 87 after that 2nd retreat, I can't tell where it's going anymore.
There is about to be a 15.7x handle on BAC I can already see it. I'll take a quarter please.
Hi everyone. I recently got back after taking the month of October (closed all positions at the begining of Oct) off from the market to reflect and meditate. I find it helps with my trading.
Here is what I'm currently looking at:
CGA - bought at $12. Target $30 for short term, $50 for long term
LVS - bought at $17. Seems to be staying above the 50d EMA on the weekly which is a good sign. First line of resistance is at 30.
LYSCY - bought at $23. Target $29.25
PRGN - Bought at $4.60. Strong A/D chart, 20d successful breakout
QCOR - Bought at $3.50 on the reversal. Target is when it reaches the 50d EMA which hasn't been determined yet.
Q - Bought at $3.78, waiting for a breakout. A/D chart looks strong and will wait this one out.
ALD - $3.36, target $4.51 (Short term 50d weekly EMA target)
LEE - $3.75, target $5.66 (Short term 50d weekly EMA target)
LPHI - $18.50, waiting for 200d EMA breakout. Waiting to see if its strong enought to stay above that line.
I look for both growth and value stocks. If the market is cheap, I'll look for growth. Right now I screen mainly for value stocks.
-William
Here is what I'm currently looking at:
CGA - bought at $12. Target $30 for short term, $50 for long term
LVS - bought at $17. Seems to be staying above the 50d EMA on the weekly which is a good sign. First line of resistance is at 30.
LYSCY - bought at $23. Target $29.25
PRGN - Bought at $4.60. Strong A/D chart, 20d successful breakout
QCOR - Bought at $3.50 on the reversal. Target is when it reaches the 50d EMA which hasn't been determined yet.
Q - Bought at $3.78, waiting for a breakout. A/D chart looks strong and will wait this one out.
ALD - $3.36, target $4.51 (Short term 50d weekly EMA target)
LEE - $3.75, target $5.66 (Short term 50d weekly EMA target)
LPHI - $18.50, waiting for 200d EMA breakout. Waiting to see if its strong enought to stay above that line.
I look for both growth and value stocks. If the market is cheap, I'll look for growth. Right now I screen mainly for value stocks.
-William
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- Joined
- 18 July 2005
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Yes, cheap if you are moving small lots.
They can get expensive when you are moving truckloads.
That's why I stick with Ameritrade.
Question for any of you Dow historians.When you look at the dow chart(gross volume) say for years 1960 to present, it was'nt till 1985 that the index broke 2000,then it rose meteoricly to 10000 in 12 years.What caused the dow to blast off after 20 years of hovering around 2000What worries me is how big the swings are getting every 5 years as opposed to 10-20 years.
What worries me is how big the swings are getting every 5 years as opposed to 10-20 years.
- Joined
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Question for any of you Dow historians.When you look at the dow chart(gross volume) say for years 1960 to present, it was'nt till 1985 that the index broke 2000,then it rose meteoricly to 10000 in 12 years.What caused the dow to blast off after 20 years of hovering around 2000
Earnings growth...and a good deal of the runup lately is being cause by a weak dollar.
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SJM is pretty sweet today
Question for any of you Dow historians.When you look at the dow chart(gross volume) say for years 1960 to present, it was'nt till 1985 that the index broke 2000,then it rose meteoricly to 10000 in 12 years.What caused the dow to blast off after 20 years of hovering around 2000
** The mid-80's was the PC revolution, Microsoft(Windows) and Intel and all of the associated PC products, the 90's were the internet related stocks.
