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Geez i had a wild day today today. first i tried to long $MACK but then the selling started and I almost went short after I took my loss. Left the house a few hours and see $aarmq down 40% and decided to short it. But had to wait until the bulltrap was complete. did scalp the short side but did not get the money back i lost on $mack. ahhh tomorrows another day though.
I have an account there too. I love their level 2 but suretrader has better charts. traders architect is pretty awesome though. I like watching tastytrade on it
I use TD Ameritrade. I have been with them for years. Only had a couple small problems and they were taken care of very quick. Plus getting money in and out is very quick.
You use Suretrader as well correct? I ask because of the new rule they have about shorting. I do not mind it but wondering what others are feeling about it. I do like their plattform and you still have a nice margin to play with as well. You can still short they just have to be priced well above a buck. What are your thoughts?
Really enjoying this board. Thanks for starting it.
Please include a chart when posting about stocks to short
Thanks I will. And if you have never fished lake Erie then you need to make a trip. That is one awesome place to fish
Well, catch a few fish for me bud. I love to fish as well and good luck
Im going to Lake Erie this afternoon. I live for fishing and thank the good Lord for day trading. it allows me to fish when I want lol.
I can understand that. Here in South Carolina the fishing is good. But there has been a lot of rain as well so I can not fish the way I would like too.
Thanks. Soon I will be posting a lot of stocks. Right now im really busy and this is fishing season
I went to their website and a big pop-up disclaimer says "Swiss America Securities does not service accounts for US Citizens, US residents or US Corporations." I'm SOL!
That's another problem I forgot to mention you can't trade sub pennies.. But I recently shorted BRND, SAFC , and could of shorted PMCM, and BYSD.. Pretty much anything is tradable over .01 .. But the burrows are amazing..
You have had success shorting sub pennies?
You can workout commission deals with them.. Only problem with them is customer support.. Other than that I'm so happy..
Yeah but I don't feel comfortable sending my private info to the Bahamas. The website seems kind of sketchy but I could be wrong. Plus their fees are astronomically high.
I may consider it somewhere in the future but right now, it's out of my reach.
Saw you on the ZHNE board.. I was short on that yesterday at 2.94 covered today for a small profit.. But I have a really good short play.. BCRX.. Same setup like ZHNE.. I would like to see your thoughts on this..
Suretrader is the best!! Best burrows..
Yea it came across my scanner and I pulled the chart on it. I was thinking about taking a position on it Monday. Post your chart on it. I like to see other peoples charts and how they set them up
That is the gospel. Its very rigged and always has been. That's why you want to learn to hit it and get out. like I said earlier. The days of mom & pop long term investing are gone. This is a day traders market
Someone just posted a link to a video where Cramer from Mad Money basically said stocks are a manipulated scam:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90328165
Really eye opening for me.
I agree with you on that statement. I actually played FNMA when it was around .25 and sold it at 1.43
I am in the over manipulated FNMA and FMCC.
Are you in any plays right now?
Sorry, I posted on the wrong board. That message was for the FNMA board.
Yes I have day trader status. I keep $100,000 in my trading account but really don't need it. And if im scalping stocks my fees can run about $150 to $200 a day. When scalping futures it runs about $70 to $80 a day. Not a bad trade for $1,000 to $1,500 a day. I consider that very low overhead
$200-$400 a trade and you do this several times a day? Yowsers! My wife would crap on herself if she found out I was pull in several nice trades like that daily.
Do you swing trade with day trader status so you can make round trips if you need to in the same stock?
I looked up scalp trading on Investopedia. It seems like you would run up quite a bit in commissions unless the small changes are relatively huge i.e. scalping $1000 gain from $15K-20K share purchase.
Investopedia explains 'Scalping'
Traders who implement this strategy are known as scalpers. The main goal is to buy (or sell) a number of shares at the bid (or ask) price and then quickly sell them a few cents higher (or lower) for a profit. Many small profits can easily compound into large gains if a strict exit strategy is used to prevent large losses.
I retired last year and love it. The best part about it is my grandkids. I have never had to miss any activities they are in because of work. I was able to retire pretty wealthy and every penny came from swing trading. Even when me and my wife travel I can still trade. That's why I really like the futures markets. They are open 6 days a week 24 hours a day. When we take trips I still take my laptop and trade. I usually hit my daily quota before breakfast while in the motel room every morning. You can make a lot of money in this game but you have to keep a level head. I didn't make my money making huge trades. I scalp and make from $200 to $400 per trade and I do it several times a day. I have no education what so ever. I quit school early and don't even have a GED. So believe me if I can do this anyone can
Good advice. I appreciate it. Question: How does it feel to not work for anyone else? Do you currently have a lifestyle from investing where if you want to stay in bed, you can? Or if you want to take a trip to an exotic island, you can without a need to request vacation time or triple-check your bank account for available funds?
In other words, how does it feel?
I just read my indicators and made my call. Some happen the same day and some take a few days. With the money you have to trade with you are in a good position to make some nice swing trades. You need to stay in the area of $7.00 to $10.00 stocks. They are more established and follow a nice pattern. Im not trying to tell you how to trade. Just sharing the same advice that was given me a long time ago. Make you a couple trades like this once or twice a week and your account will be way up there before you know it
How did you know to call THAT one? It dropped like a rock this AM. I just checked the chart on it. Ugh. That was a great opportunity to ride it down and then back up. Profit both ways (Champion Traders!).
Not at all. Swing trades are very short term trades anywhere from overnite to maybe a few months. I retired from doing this. Tell you what. PM me your number and I will call and tell you how it works. You have enough to trade but you need to be in a certain size bracket on the big boards
In swing trading, does that mean stay away from shorting stocks?
If I was you I would be swing trading big board stocks
$4K right now.
Not trying to be nosey but what do you have to trade with? Maybe I can help you to the direction you need to go. All I do is day trade and swing trade. I play some pennies but only ones that show me a good chart. I probably trade gold futures more than anything. Its easy to scalp points in gold
I will have to stay away from subs. I cannot find a broker that allows shorting of subs inside of the USA.
I have eTrade and they don't allow shorting of any pink sheet stocks, even if they are over $5.
Well I look for stocks that are way over bought. I never short sub pennies for the simple fact that they can jump for no reason at all and that can cost you big bucks. Look at this stock chart here. I just shorted this one. I was up $750 the first day but I held it because it will drop further. Even though it went up almost another dollar it will still drop. It is way to extended and It cant sustain itself. People will take profits and it will get shorted back down to close the gap. My bread & butter is the futures markets. I go long and short it. I average around $1,000 to $1,500 a day. I have been doing this for years. Do your self a favor and do not get into shorting sub pennies unless you have tons of money. I have plenty money and I wont do it. Its to easy to make money swing trading.
If you don't mind, what are the typical steps you go through to decide on which stock(s) to short?
I have only shorted stocks in the 2.00 range and up
So you can short stocks above a penny? If that's the case, I am going to check them out.
I use TD Ameritrade. Been with them for years. Now I have never tried to short sub pennies so I don't know if they will let you
Which brokerage do you use to short? I am looking for a brokerage that allows penny stocks to be shorted. I was recommended Sure Trader but it looks a little fishy to me.
Thanks. Board marked.
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