13:32:48 MU SLD 2000 37.63 10:19:28 MER BOT 1000 52.85 10:05:01 SUNW BOT 5000 9.13 CLOSED 10:00:58 CPN BOT 2000 11.4 09:59:45 MLNM BOT 2000 22.6 09:17:33 .SJXDT BOT 10 42.2 3-6-02 11:25:03 SUNW SHRT 5000 8.91 3-6-02 CLOSED P&L: $(2,340) OPEN P&L: $5,060 UP-TO-DATE CLOSED P&L: $3,900
I am reminded of the saying: Pride cometh before the fall. Ego trippers ALWYS end up looking foolish.
He said he'd post his results each day? If his account's 300-400K thats not that big of return (1-2%).
Stocks finished lower despite bullish comments from Fed Chairman Alan Greenspan, better than expected 4Q productivity and positive news from the retail sector. This market makes perfect sense...doesn't it?
I suppose there was bound to be profit taking at some stage after the last four days Seanote. Good to see your posts, sorry to see you had a setback today but as we know thats all part of the game. I hope you can keep it up as I see you already have a couple of critics on your back. The only poster to keep his journals going is Hitman and he's got the hide of a Rhino, criticism and sarcasm just bounce of him Good trading Flea
ddefina: I am curious as to any average daily return for a day-trader versus a swing trader? I guess you would take a successful trader from a Prop firm, and a successful trader using a retail direct access account. Has somebody gathered records from a number of brokerage's(both pro and retail) providing us with statistics as to which strategy provides the better ROI? 1.5% per day on a 350k account would be over 1 million per year. Thanks, Jeffrey
That deserves to be reprinted. Seanote - I'm with the others on the board in thanking you for posting. Don't let the salesman get you down - his insipid attempt at criticism along with the incessant self-promotion and the sheer volume of posts give a good indication of the weight that should be given to his commentary.
One of the hardest things to get into the head of a new trader is that we are Not looking for ROI. Our traders get paid for their time, abilities, and dedication. Imagine a guy making $5K on a day with $25K in his account...20% ROI per day...not! ROI is for passive investing, and can apply for the casual investor, but day traders and active swing traders get paid for their time at work. IMO
Regarding you comment on my 1-2% returns vs. my 300-400K equity.......Do you have a job where average $4K a day and work for yourself??? If so, I would love to know what it is you do. Secondly, I don't average 2% return daily...I wish, but I don't. I do well enough to live extremely comfortable and have positioned myself so that I can afford a bad YEAR....and still be in the game. I have diversified my net worth outside of the market so I will never loose it all. I would love to tell you how old I am but I'm going to live that alone for now. Do you realize how jaded you are to make a comment like that? 2% return daily??????? Are you kidding me? How has your 401K performed on % basis over the last year. I will venture to say averaging 1% daily return on my equity compounded as my BP and equity increase would outperform monetarily any investment vehicle you can find. There are 252 trading days per year of which I miss on average 40 due to vacation or days that aren't tradeable. That leave 212 trading days producing on average 1% of my equity...you can do the math. Here's a quote for you straight from my book......"Wealth is accumulated by hitting singles, not home runs" which has proven true to me time and time again over the last 4 years. I was a cocky trader when I first started and had account fluctuations of 20% - 50% daily...You can guess what eventually happened. With 5K left I closed my account and emersed myself in books, software, and DEMO trading for the next 6 months. I re-grouped and began trading other people's accounts with a new outlook on this "job" and was successful enough to go back out on my own because I learned discipline. I have finally positioned myself where I want to be financially and have a full understanding that I might not be doing this the rest of my life, but if the game wins I will still have cashed enough chips to walk out a winner.