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I wish you well Contax. It is great to see someone with such a lay it on the table approach.
Regards
John
Today's Trading Summary:
It was another losing day for FortuneQ™.
The system ended up losing $150 net.
If I had traded off of FortuneQ™ "short sell" signal, today's trading would have yielded positive results.
Oh well, tomorrow is another day...
Profitable Trading to All,
contax
Close @ $31.70
EDIT:
Losing Trade.
Loss= 20¢ + 2¢ (Commission)= 22¢*1000 shares= $220.00
Cover @ $32.17
EDIT:
Winning Trade.
Potential Gain from "Short Sell" Signal= 23¢ - 2¢ (Commission)= 21¢*1000 shares= $210.00
Close @ $32.40
EDIT:
Winning Trade.
Gain= 9¢ - 2¢ (Commission)= 7¢*1000 shares= $70.00
>>I take initial wonder at the notion of wating for 90 minutes after the open. <<
To avoid buying at the top or shorting at the bottom, I do not initiate a trade until there is a change in the overall direction of the market from either the initial euphoria or despair that the market exibits at the opening. And my experience with FortuneQ™ has shown that that a relatively reliable signal change usually occurs after the first 90 minutes of trading.
Thanx Lee for stopping by and I look forward to your insight(s).
contax
The events of the past week sure have put a damper on my enthusiasm to post real-time trades on this thread. But in light of the interest shown by many, and the general national sentiment of reviving the country's economy from it's malaise as a way to get back at the terrorists, I will do my very best to stick with my commitment.
In respect of all those who lost their lives to last week's dastardly attacks, I shall refrain from initiating any "short" trades, but will post all "short" sell signals given by FortuneQ™.
Let us all, to the best of our ability, help our nation get back its glorious luster.
GOD BLESS AMERICA
contax
Thanks for creating this thread Contax! Look forward to seeing the results of your system.
I've been trading the QQQ's for a long time. With the QQQ's you get no earnings surprises (up or down; no analyst upgrades, downgrades, sidegrades...no silly tatgets; No "bad" news typically posted by companies after the bell or after 4:00 on Friday; no CEO's absconding with company funds and a secretary or two to RIO; no "accounting irregularities" with multi-point down gaps; no FBI breaking down the doors.
But one quick thought; I take initial wonder at the notion of wating for 90 minutes after the open. I generally wait for the first 20-30 minutes (or more if necessary) to detect a discernible trend, up or down.
I just came upon your site, will read your philosophy carefully and, if I can offer an occasaional post of value...I'll certainly do so.
An aside; I'm a daytrader and a moderator in a well known trading room.
I like what I see so far, please keep up the good work, contax!!
signed,
Bernard
contax,
Very cool to see you posting your trades (or system trials) in real-time.
A lot of folks don't do that and often wait until after the bell and say "OH this is what I did." But the real-time traders, even if wrong sometimes, deserve more respect.
I'd hope this trend would spread through iHub.
MB
Thanx Arch!
Hopefully, tomorrow, FortuneQ™ will make up for today's $10 loss...
Nice thread you got there! Will stop by and recommend a stock.
All the Best,
contax
Thanx Gerald, for visiting and being the first poster on this thread! Sorry that my system did not make any money today, but like you said, it is a brutal market, and tomorrow is another day...
Do stay in touch...
All the Best,
contax
FortuneQ™ finished the day with a total loss of $10.00
Today, to say the least, was a difficult day to make money! I would have obviously preferred that FortuneQ™, on its public debut, had finished the day in the plus column. But the fact that it only lost $10 underscores what I said in the intro to this thread. I am satisfied with the performance of FortuneQ™, and tomorrow is another day to try and make some money.
Profitable Investing to All,
contax
Close @ $33.96
EDIT:
Winning Trade.
Gain= 12¢ - 2¢ (Commission)= 10¢*1000 shares= $100.00
Cover $33.83
EDIT:
Winning Trade.
Gain= 7¢ - 2¢ (Commission)= 5¢*1000 shares= $50.00
Given the sheer volume of QQQ traded, electronic market orders have been fine lately, IMO.
I trade off of Parbolic stop levels. Today the Daily ones are 34.34 and 36.46. A bounce "tween" those two levels we are over due for. Make no mistake about it though...sellers rule for now.
Hourly levels could get a buy sig if we approach todays highs again....fwiw
Nice system Con, gotcha marked. Come visit us when ya get a chance.
http://www.investorshub.com/boards/board.asp?board_id=307
Arch
Hi Fred,
Thanx for stopping by...
All my orders are limit orders, but I always put my limit orders a couple of cents above or below the bid or ask, depending if I am buying or selling. This way, my orders, though theoretically they are still "limit" orders, but in actuality, get executed as market orders. This way, I am not at the mercy of the MMS in the order execution of a "market" order.
contax
Close Position @ $33.94
EDIT:
Losing Trade.
Loss= 14¢ + 2¢ (Commission)= 16¢*1000 shares= $160.00
Not exactly a roaring start to the system.
Interesting....Good luck with it.
I started trading the Q's soon after it was introduced. Locking in some profits w/target gains, stops, and not holding much overnight are a few things I've learned along the way to makiing it a profitable system. I'm not quite a daytrader of them, but lately that has been the best route.
Btw...are your orders limit orders or @ market?
Here we go!
The first trade based on FortuneQ™ signal:
Long QQQ @ $34.08
EDIT: Looks like the board clock is off by about a couple of minutes. I have notified the site administrator.
With the way the market has been lately, I'm open to any system that can offer any kind of a profit in this brutal market. Good luck and keep us informed. Thanks, Gerald Levin
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