Yesterday I decided to increase my share size to 200. I know it’s not the prudent thing to do, but I figure what the hell. If I get a good run I”ll get to 3k quicker. Luckily for me the trading gods were in my favor. My first trade was ACN, which got me stopped out right away. No biggie, just a 17 dollar loss. My next trade was ENER.
ENER
I got long on the break of the ninth bar risking 38 cents. I figured it would be a losing day, as it usually is when I double up, so I went home satisfied that my loss wouldn’t be as big. When I checked out the stock at around 2, it felt good to see it up almost a dollar. When I looked again at four it felt great. I managed to make 440 on the trade, which was by far my best trade yet. Now my account equity is back up to 800.
I also shorted NVTL which managed to barely make enough to nullify the loss I had with ACN. All in all the week has been good to me. We’ll see how Friday turns out.
September 29, 2006 at 4:48 pm
nice trade on ener…what happens when you get to 3000?
September 29, 2006 at 5:38 pm
Congrats on a good day. That was a big run. Can you clarify something for me? An earlier post indicated you were getting 100:1 leverage. Where are you doing that and how come you not subject to pattern day trader rules? Is this paper trading or am I missing something?
Thanks for the clarification.
September 30, 2006 at 9:47 am
John: When I get to 3k I get to break even . My check is anything over break even.
Mike T: I had to pony up 3k and they gave me 300k in BP. Some firms require a 5k deposit. Here is a list of prop firms. http://www.traderdaily.com/news/item/1085.html. Some require you to register with series 7 and 55 if you trade nasdaq, others may not.
September 30, 2006 at 12:10 pm
gl butterboy