I do agree with the intent of your post... but this is not a journal, and therein lies the issue.
If you read his opening post, you can see this is not a journal. I find the idea of a thread titled "REAL MONEY" and demanding statements be posted to be a bad one. The thread has existed for a day and we already see what it has created.
I am all for a trader like @DetroitMoney using futures.io (formerly BMT) to start a journal for his own purposes to benefit his own trading. But that was not his intention with this thread, and that is why I am taking issue with the content posted within.
If he wishes to start over and create an actual journal for himself then I think that would be a good idea, and I hope he puts a real serious effort into it. Then you would see the normal helpfulness of futures.io (formerly BMT)'ers as they give feedback on what he posts there in an effort to share their experiences. But it is not some sort of contest like this thread is setup to be.
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I don't think I said anything negative at all. I thought I was trying to be transparent is all by doing it the way I did. I thought I was doing it right however I can see that is not the case. No worries you guys have made it clear what's what here and I get it now.
No more posting for me in here but I do plan to stick around for a minute. I do find others threads enlightening.
Just a trader trying to make some money is all I am.
No worries Mike I'm no troll
See you around
The following user says Thank You to DetroitMoney for this post:
Since I do also trade stocks I though maybe I would keep this thread going ( in lieu of starting another one) if anyone wanted share their stock trading thoughts and/or ideas. I am in several positions currently some of which are longer term horizon outlooks like my graphene stocks. I will also post my futures trades here as well both good and bad so that I can stay real with everyone here. All charts I post are live real money both futures and stocks.
A shot of what I am into is attached.
Kinda getting wrecked on COVS right now however my cousin works there so I am staying the course. It's almost funny to me on that one because it is the first one I went big on and I am getting FUBAR right now. LOL I normally only do small caps >5 because they are the ones that can move 10-20% quickly. OR NOT Warren and Charlie both have said publicly that you have to be willing to incur a 50% draw down at times. I was like yeah right however you have what like 12 freakin 0's.. LMAO
The rest of it is different stuff that matched my scan metrics that was where I thought I could live with getting into it. I have a couple of different ways I trade stocks. Some I do for my value investing side some I do as money gainers to make short 10-20% gains then plow that back into the value positions to buy more. I have also have a 50% off at 50% way of doing stocks depending on how big I go on the position. No need to be crazy and/or greedy and not pay yourself and I am all about getting paid
I had a bad day in the futures today and got spanked hard for $540 plus fee's. Hey it happens and it is my own damn fault as I went in there to early thinking I saw something. I played it cool though and turned the charts off and got out of here and went to the food store to get some grindage for a few days. I normally only trade open of gold and open of crude and that's pretty much it. In out and off to the strip club for gentleman's breakfast..JK
If anyone wants to know my scan metrics I will be happy to post them here.
I forgot to say that I use scott trade as my broker to buy/sell stocks and use TOS charts to monitor my positions as I get my TOS demo charts in real time. It's kinda cool. I do everything except trade the TOS charts. Watch lists, charting everything. They are realllllllllllly good charts and do waaaaay more than anyone could want to do. Need to keep it simple anyway.
Cash machine almost sucked my fingers into it while it was taking my profit money back in from the last 3 days. Got spiked out on petro news then reentered and had it going but then not. I don't move my SL so I got stopped out again which brought today's losses to -440. My max daily loss is 400 then it's over. Today on the spike out I got slipped for 40 bucks. OUCH
Cool thing about today is that one of my longer term sub zero positions looks like it might becoming to life so that's kinda cool.
A good piece of advice I can give you in relation to today's economy is that you might want to have an equal amount of shorts as you do long positions with stocks so if the market starts to tumble from it's high you'll be able to hedge the risk. It's a good idea to pick a short and a long position from the same sector so they're correlated. I'd also suggest to risk the same amount on each trade. try to diversify as well.
The following user says Thank You to Itchymoku for this post: