Replies to post #123615 on Zeev's Turnips Patch-No Politics (ZEEV)

[Train Guy]

I'm still getting use to the interface and setting it up how I want it.

-- stops,trailing or othewise if in blue not green on your screen are not seen by marketmakers. Set your stops and let your profits run. --

Um, how do you make them blue? Isn't that just one that hasn't been transmitted yet? Or is that one that TWS tracks and then transmits when it hits? Or do IB's computers track it and then execute it when it hits?

-- Oh, be very careful trading as I have lost several thousand dollars placing incorrect trades,the system is unforgiving.I am sure I am not the only one. I often trade 1000 shares...but it is quite a surprise in a blink to own 10000 shares of a 50 dollar stock. --

Um, if you usually do 1000 share trades, shouldn't you just set that as the default? And then if you want to change it, just left click on the quanity, a menu pops up and you scroll to a different amout? Besides, the interface is prefect for presetting up trades. As Zeev says, planning the plan. Then you can at your leisure set them up and double check them. Then at the proper time you're just one clicking to transmit them instead of rushing to enter them.

Tcnet? Hm, I'll have to look to see what that is.

-- Distractions are also a problem. I run a small company with 40 employees between trades. --

Uh oh, you're trying to daytrade while running a company? Wouldn't swing trading more suit your situtation? Just doing a little math, to daytrade you need at least $25,000. So 1% a day is $250 or $65,000 a year. And since there's no fica on that, it being all capital gains, probably makes it close to the equivalent of $70,000 or so. Wouldn't that put you in the top 5% of wage earners? But if you start off with a decent amout, say $50,000 that would make you about $140,000 a year. And hopefully you'll grow your account. $100,000 would make you about $250,000 a year. If you were making that kind of money, why would you need to fool with running a company too?

Now if you are just doing this for extra dough, than shooting for 1% a week as a side thing in addition to running a company would be reasonable. That would turn $20,000 into $1,000,000 in a little under 10 yrs.

TG