Newbie seeks new Porsche via day trading. See what happens. - futures io
futures io futures trading



Newbie seeks new Porsche via day trading. See what happens.


Discussion in Trading Journals

Updated by Carrerain4
      Top Posters
    1. looks_one Carrerain4 with 103 posts (42 thanks)
    2. looks_two Underexposed with 30 posts (43 thanks)
    3. looks_3 tturner86 with 21 posts (32 thanks)
    4. looks_4 deaddog with 19 posts (25 thanks)
      Best Posters
    1. looks_one josh with 3.1 thanks per post
    2. looks_two tturner86 with 1.5 thanks per post
    3. looks_3 Underexposed with 1.4 thanks per post
    4. looks_4 Carrerain4 with 0.4 thanks per post
    1. trending_up 21,599 views
    2. thumb_up 312 thanks given
    3. group 21 followers
    1. forum 263 replies
    2. attach_file 29 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Newbie seeks new Porsche via day trading. See what happens.

(login for full post details)
  #201 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,170 since Jan 2013
Thanks: 47,009 given, 20,708 received


Carrerain4 View Post
WPCS hit my target price of 1.25 and I sold at that point. (2200 shares) It peaked very shortly thereafter at 1.31 but I got my 7 cents per share and the peak was very brief. I honestly think that if I'd hovered over the button and tried to manually hold out for a better price, I would have had a hard time doing it as I'd be inclined to react to a drop of a few cents with "wait and see" in the hopes that it would later go even higher. And in the end I'd probably not have done as well as just picking a price and letting auto execution get it for me.



Granted, it may limit my ability to extend my profits even higher, but I feel safer by taking a personal sense of excitement
and nervousness out of the equation. Trade without passion. Passion gets you in trouble.


I got 6 percent not counting fees. The new larger fee (20 bucks!) made a noticeable dent but it was still rather profitable.

I've done that a hundred times.... that is, the " 'wait and see' in the hopes that it would later go even higher" thing, which you correctly did not do. It doesn't usually work. You did the right thing, for the right reason. It won't always work out, but you have to be in for the long haul and always bet on the side of the greatest probabilities. Good job.

You're doing extremely well at this point. What you're learning is how to consistently follow a plan and sticking to it. Nothing is more important (well, it helps if your plan is a good one, , but then, sticking to it is how to make it work.)

It's nice reading your journal. Keep plugging. You'll do well if you continue to learn and experiment with what works out for you. Good luck to you.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:

Can you help answer these questions
from other members on futures io?
Indicator Conversion
Sierra Chart
fibonacci retracements settings not saved in investing
Traders Hideout
Experience Baxter FX
The Elite Circle
Trading System with 2 contracts
EasyLanguage Programming
Basic Indicator and Strategy Question
The Elite Circle
 
 
(login for full post details)
  #202 (permalink)
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Trading: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,943 since Jun 2009
Thanks: 510 given, 3,597 received


Carrerain4 View Post
Alibaba's upcoming IPO price is set to be between 60 and 66 dollars per share.

Lots of infographics about Alibaba and the IPO


Carrerain4 View Post
No telling what I can actually get it for the moment the shares are open for general sale, but you can bet that I'm going for ramming speed. I'll throw every tradable dollar I have into it. Both accounts, all in.

Uh take it easy, IPOs are volatile, you could win or lose a lot. I've done well holding YHOO since the mid-August breakout as a proxy into the IPO.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to shodson for this post:
 
(login for full post details)
  #203 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received


I may commit HALF my account to the Alibaba IPO. Just in case it goes like FB in which case I'll be an investor, rather than a trader.

The thing about FB is that I still don't see that FB has any actual monetary value at all. I'd value it at zero per share.

Alibaba, on the other hand, combines the best attributes of ebay and amazon in one package. It is really an innovative
way for ANYBODY to market their products. Some good thinking went into its creation and I would be very surprised
if it doesn't grow and dominate like Google and Wal-Mart have grown and dominated in their fields. And it is easy to show the cash value that Alibaba represents, unlike the imaginary value of a social networking site like FB. So I do NOT expect Alibaba to follow FB's pattern.

The biggest single technical problem I see with buying Alibaba the moment it goes public is that the pricing is very likely
to change so rapidly that I won't have time to calculate how many shares I can buy within my account limits and then
place the order before the price has changed enough to make that calculation out of date.

I could just place a limit order at, say, 75 per share, but if it goes for 65 at that moment then the 10 per share difference would mean that I'd end up not buying as many shares as possible within my allotted funds.

Even then, if it opens for trading at 81 a share I'd still want to get in on it even though my limit order was too conservative. I might go as high as 100 per share but above that point I'd probably decline to participate.

My current brokerage doesn't give an option to "buy as many shares as will fit within this amount of money". I have to manually calculate it.

I won't be able to buy very many shares with a total account value of just over 10K. But whatever percentage of that
amount I choose to commit to Alibaba shares, I want to actually get that much into it. I'd rather not end up leaving
500 dollars sitting there in my account that's not in play when I intended for it to be in play. That 500 dollars could
be 500 dollars that doesn't end up doubling to 1000 in the first day, for all I know.

My expectations for Alibaba is that the share price will climb at least 50 percent in the first day and double within a week. And who knows? It might double in the first hour for all I know.

Reply With Quote
 
(login for full post details)
  #204 (permalink)
Puerto Rico
 
Experience: Intermediate
Platform: thinkorswim
Broker: TD Ameritrade
Trading: ES
 
rmejia's Avatar
 
Posts: 377 since Oct 2010
Thanks: 3,600 given, 432 received

Is your homepage link matthews-guitars you? Beautiful guitars, love the flame tops.


Carrerain4 View Post
The thing about FB is that I still don't see that FB has any actual monetary value at all. I'd value it at zero per share.

Facebook's value comes from its huge user base. Over 1 billion people visit Facebook monthly. That is a massive amount of page views. They get their money selling ads, like Google. They collect a lot of data which they also use and sell. They recently paid 19 billion dollars to buy a chat application. How is a chat app worth 19 billion? It has over 500 million users.

Imagine someone is selling a guitar website with 100 views per month, and another guitar website with 1,000,000 views per month. There is a greater possibility to make money (ads, selling merchandise, etc) from the 1,000,000 views so it is worth more; now imagine 1,000,000,000 views.

Attached Thumbnails
Click image for larger version

Name:	2014-09-07_1240.png
Views:	28
Size:	65.8 KB
ID:	155404   Click image for larger version

Name:	2014-09-07_1242.png
Views:	20
Size:	45.5 KB
ID:	155405  
Reply With Quote
The following 2 users say Thank You to rmejia for this post:
 
(login for full post details)
  #205 (permalink)
Site Moderator
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-50
Trading: GBU-39
 
tturner86's Avatar
 
Posts: 6,163 since Sep 2013
Thanks: 10,449 given, 12,567 received


rmejia View Post
Is your homepage link matthews-guitars you? Beautiful guitars, love the flame tops.



Facebook's value comes from its huge user base. Over 1 billion people visit Facebook monthly. That is a massive amount of page views. They get their money selling ads, like Google. They collect a lot of data which they also use and sell. They recently paid 19 billion dollars to buy a chat application. How is a chat app worth 19 billion? It has over 500 million users.

Imagine someone is selling a guitar website with 100 views per month, and another guitar website with 1,000,000 views per month. There is a greater possibility to make money (ads, selling merchandise, etc) from the 1,000,000 views so it is worth more; now imagine 1,000,000,000 views.

Also FB has become more of a utility for the net. A lot of sites rely on FB for login and other features to power their site.

Reply With Quote
The following user says Thank You to tturner86 for this post:
 
(login for full post details)
  #206 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

Well, I'm HIGHLY resistant to advertising, myself. I make aggressive use of ad blockers and customized HOSTS files so I rarely see any advertising in my on-line travels and if I could do the same thing for all other media sources, I would.

Did you know that the current time allocation for television shows is 18 minute of run time and 12 minutes of ad time per half an hour?

Just a couple of years ago it was 20 minutes of run time and 10 minutes of ad time per half an hour.
A few years farther back, it was 22 and 8.

And I thought that was about 8 minutes more ad time than I wanted to see back then. I'd approve 2 minutes per half hour,
just long enough to hit the bathroom and yank the nachos out of the oven. And if that 2 minutes between shows consisted of
noise, static, or a blank screen, it would be fine with me. I detest advertisements on TV and on the internet and I'm not a big fan
of them in print, either.

I've hit the X button on FB's ads so many times that I literally no longer get any ads on my FB page. Not one, not ever.

So my personal estimate of the value of FB would of course be much lower than those who are more tolerant of ads than I am. Which is practically everybody.

Yes, matthews-guitars.com is my website and those are my hand-made guitars. Thank you.

All that being said, IF I was in a position to actually start producing guitars on a consistent basis, I WOULD give serious consideration
to placing ads via Google adsense or Facebook. Their marketplaces are large enough to drum up some serious candidates for my guitar offerings. Although I do not make cheap instruments by any means, I do charge less than the companies that I consider to be my
most capable "competitors", namely Gibson and Paul Reed Smith. And I deliver instruments that can be compared on a level playing field with their top tier products.

Reply With Quote
The following user says Thank You to Carrerain4 for this post:
 
(login for full post details)
  #207 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

No activity today. But WPCS was my morning pick for another good day. IF I'd bought it, and I was seriously considering it, I'd have bought at 1.24. It hit 1.37 for a net gain of slightly over 10 percent.

I did not buy into it for two reasons: Some of my money is still in unsettled funds, and I would trade with all available
funds by preference rather than split my money up and have to pay multiple transaction fees. And, I'm trying to settle out all my accounts to cash so I can transfer one or both to Tradeking ASAP. It's easier and cheaper to make the transfers when it's just cash moving, rather than trying to move the account while invested in various securities.


But with the full value of that account on tap, I'd be able to use 8000 dollars for that one account and adding 10 percent
to it in a day (800 dollars) would be well worth the 40 dollars in transaction fees. Or even just 5 percent.


My short term plan is to watch WPCS and be alert for another day where big gains seem likely.

The trend for WPCS lately has been decidedly upwards. Since the news on them is that the NASDAQ is now happy with
them for pulling their price up above a dollar a share, there's nothing negative that I can find regarding the company so I believe the upward trend will continue for a while yet.

Reply With Quote
 
(login for full post details)
  #208 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


Carrerain4 View Post

My short term plan is to watch WPCS and be alert for another day where big gains seem likely.

The trend for WPCS lately has been decidedly upwards. Since the news on them is that the NASDAQ is now happy with them for pulling their price up above a dollar a share, there's nothing negative that I can find regarding the company so I believe the upward trend will continue for a while yet.

I would be careful about buying WPCS at this point....It would have been nice if you have done as I suggested and put in a trailing Limit Stop-Loss when it was rising above $1.25....then you could have reaped a really nice gain.

But I would be cautious about re-entering right now...Especially today when it has had that nice jump....look at this chart



see where I have circled prices in the past? This stock has a habit of getting over excited in the past and rising above the upper bollinger band...that thin green line that I point to with the blue arrow.

the price will pull back more than it has already like it has before.



In this second chart you see a resistance that has been breached....but the price has already pulled back below this line. The nature of the chart is such that it will not show this yet unless it drops another cent but it will do so at the end of the day...probably.

It is not a good idea to buy when a stock is just under a resistance....if it rises and CLOSES above that line...that would be good and you would be looking at a further rise to about $1.80....BUT this will only happen if it passes and closes above $1.55....so far today it has tried and failed to stay there.

Just an observation on my part...

Reply With Quote
 
(login for full post details)
  #209 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

WPCS has been stunning this week. It's hit 1.70 today. In retrospect, I SHOULD have put my settled funds into it,
but I didn't so no need to worry about that.

While it's always possible that today COULD be the last day of a good run, the truth is that nobody really knows that.
You might just as easily point to this week's current performance as evidence of increasing confidence in the company and in the stock and this run may be FAR from over.

Any time I put money into the market, no matter how well reasoned the decision is, the fact is that there's always
an element of risk to it. Even the best long-term gaining stocks can experience a turnaround at any moment.

So if I do put any money into it again, whether it's later today, tomorrow morning, next week, or years from now,
it's always going to be a risk.

My BELIEF is that the ride is far from over. I think that the stock will regain the value it had at the beginning of the year, between 2.50 and 3.25 per share and I think it's going to do that fairly quickly. I see no indicators or news that would prevent that from happening, and the company has taken action to correct the problems that led to their stock dropping below a dollar a share.

There has been no substantial news regarding the company in the last five days.

Its pattern, sudden increases in share volume and wild price action swings, makes me think that a lot of day
and swing traders have turned their attentions to it. And I think the swing traders are the cause of the general upturn in prices while the day traders are responsible for the intraday volatility. Plus I'm sure that there are some who are buying and holding, fully expecting it to appreciate significantly over a longer time frame.

Of course I could be completely wrong but that's what I'm getting from all this.

I think I will be buying into WPCS tomorrow, Thursday, or Friday, whenever I think it's at its new current bottom range.
In order to get my larger volume trades executed (8 grand worth, more or less) I may have to check real-time prices, and if satisfactory, place a MARKET order to buy (all or none) and take the chance that some shares may be bought for a few cents more than others. Limit orders can take a while to fill when you're asking to buy thousands of shares so in this case I accept the calculated risk that comes with a market order. But I'll be watching it like a hawk, and if the price goes above my set limit before the order executes, I'll cancel it.

Reply With Quote
 
(login for full post details)
  #210 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014



Carrerain4 View Post
WPCS has been stunning this week. It's hit 1.70 today. In retrospect, I SHOULD have put my settled funds into it,
but I didn't so no need to worry about that.

While it's always possible that today COULD be the last day of a good run, the truth is that nobody really knows that.
You might just as easily point to this week's current performance as evidence of increasing confidence in the company and in the stock and this run may be FAR from over.

Any time I put money into the market, no matter how well reasoned the decision is, the fact is that there's always
an element of risk to it. Even the best long-term gaining stocks can experience a turnaround at any moment.

So if I do put any money into it again, whether it's later today, tomorrow morning, next week, or years from now,
it's always going to be a risk.

My BELIEF is that the ride is far from over. I think that the stock will regain the value it had at the beginning of the year, between 2.50 and 3.25 per share and I think it's going to do that fairly quickly. I see no indicators or news that would prevent that from happening, and the company has taken action to correct the problems that led to their stock dropping below a dollar a share.

There has been no substantial news regarding the company in the last five days.

Its pattern, sudden increases in share volume and wild price action swings, makes me think that a lot of day
and swing traders have turned their attentions to it. And I think the swing traders are the cause of the general upturn in prices while the day traders are responsible for the intraday volatility. Plus I'm sure that there are some who are buying and holding, fully expecting it to appreciate significantly over a longer time frame.

Of course I could be completely wrong but that's what I'm getting from all this.

I think I will be buying into WPCS tomorrow, Thursday, or Friday, whenever I think it's at its new current bottom range.
In order to get my larger volume trades executed (8 grand worth, more or less) I may have to check real-time prices, and if satisfactory, place a MARKET order to buy (all or none) and take the chance that some shares may be bought for a few cents more than others. Limit orders can take a while to fill when you're asking to buy thousands of shares so
in this case I accept the calculated risk that comes with a market order. But I'll be watching it like a hawk, and if the price goes above my set limit before the order executes, I'll cancel it.

It has risen again...back to $1.60ish...don't trust me....there is no reason to do so....but be very cautious about getting back into WPCS at this time... it could easily pull back to $1.40-1.45


Quoting 
Traders Buzz: WPCS International Incorporated (NASDAQ:WPCS), Vicon Industries, Inc.(NYSEMKT:VII), Endeavour International Corporation (NYSE:END)
By Marc Nielsen • September 9, 2014 •

Lakeway, NY — (MARKET NEWS CALL) — 9/09/2014— Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on WPCS International Incorporated (NASDAQ:WPCS), Vicon Industries, Inc.(NYSEMKT:VII), Endeavour International Corporation (NYSE:END).

WPCS International Incorporated (NASDAQ:WPCS)’s stock jumped 1.54% to $1.32. The company on Sept. 4 announced that it has received a letter from NASDAQ, dated Sept. 3, 2014, indicating that WPCS has regained compliance with Listing Rule 5550(a)(2), as the closing bid price of the Company’s common stock has been $1.00 per share or greater for the last 10 consecutive business days. Accordingly, NASDAQ has advised that the matter is now closed.

If this is the "HARD NEWS" you are reading...you are falling for media rag buzz. Nothing has changed in the fundamentals of the company...it still loses money every quarter....in other words...it is being pumped.

You can follow your gut and buy in if you want...perhaps I should have stayed silent. But I would not buy it now...were it me.

Reply With Quote


futures io Trading Community Trading Journals > Newbie seeks new Porsche via day trading. See what happens.


September 1, 2015


Upcoming Webinars and Events
 

New Bookmap Indicators and Trading Services

Dec 3
 

Battlestations!

January
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts