you only trade 1 day per week anyway, so you get 2 trades on that day and your out and all fine, 3rd trade and account gets frozen and margin goes away, madness.
I'd margin both your accounts, then you get 4 trades per week, long or short, run 2 trades on different accounts basically and with the 100% Margin it's like both your account are the size of just 1 account.
Yes your looking for 1, but it's nice to be able to exit at BE and try another and do that on the short side when required.
Stick to 1, 2 tops, you can make enough hopefully, your not over night holding so no gap risks so might aswell go all in, more positions would just ruin your focus.
The following user says Thank You to Turveyd for this post:
Thanks, that's good advice and it sits well with me. It's along the lines I was thinking anyway.
My picks so far for my trading games have almost all been successful. I'm looking forward to Friday when I can
again jump in for real and see what happens.
Last night I couldn't sleep and at 3 AM I was on the computer and found the news that led to my pick for the day,
which went rather well. I ended up picking RDC which charted for the day just how I like them, except for that big bump in pre-hours trading which reinforces my personal rule against buying when the market closes unless it's a limit order. That spike at the opening bell would have spelled disaster if buying with a market order. But this was all done in my game, not with real money. Still good practice.
I have not yet even learned where to go to do after hours trading. I'm sure the answer is just a Google search away.
Spreads are just silly for after hours trading just don't bother, my trading became useless when I was forced to hold over night and expose myself to Gap's and News, so stay with no over night holds if I was you.
Get account to 25K+ then 400% margin ( not over night ) and no issues ofcourse.
It's the hours of Prep every night / weekend, looking for the next likely candidates which killed me, these days with Forex / Index trading, I switch charts on, place a trade or 6 and switch off, much better life style, guess you only have 1 night of prep per week before your 1 day of trading, which helps.
Another day, another dry run/gaming day. My pick for the morning was NEWL which hit 125 percent gains around 3:15 PM and closed up 103 percent.
I made some (game) money. The game account is up 19.5 percent since I started it up about a week ago.
I have made some mistakes that reduced my yield but almost 20 percent in a week doesn't exactly suck.
I've (re)learned that the nerve-wracking thing about watching a live stock chart is that unlike yesterday's charts,
you can't point at it and say "I'd buy here and sell...HERE." I just have to go with a combination of knowledge
and instinct and luck to see whether or not a small gain becomes a big one or disappears or disappears and then
comes back in a big way later in the day.
One part I did see coming was that NEWL would correct HARD if it actually hit 5 bucks a share. Which it did, and
I predicted that it would correct down to close to 4 bucks a share so I sold short right off the 5 buck peak and cleaned up, closing the short at about 4.25 per share.
So far I've actually made most of my game account money on shorts.