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Xela's 3K to 1M Challenge( Current Gains $3,023) - Page 2

post #21 of 39
5/20/12 at 6:38pm
Thread Starter 
Quote:
Originally Posted by webChris View Post

Xela, have you thought about a trialing stop instead of a max of 3% gain?


This might be a good option, Chris. I thought about that yesterday.

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post #22 of 39
5/20/12 at 6:45pm
Thread Starter 

Thank you all for contributing to this thread, you all have worthy advice and opinions. I'm going to keep this going to see how far I can get. As I've already mentioned, this is more of a test to see whether or not I even have the necessary skills to pick winners and whether or not I have the capability of being mechanical with profits and losses as well.

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post #23 of 39
5/20/12 at 7:12pm
Quote:
Originally Posted by Xela22 View Post

 As I've already mentioned, this is more of a test to see whether or not I even have the necessary skills to pick winners and whether or not I have the capability of being mechanical with profits and losses as well.

 

 

Testing whether or not you can pick winners should be done via simulated trading not when real money is on the line. Like previously stated, you absolutely have to tighten up that stop loss to make the R:R at least 1 to 1, otherwise your strategy will fall flat on its face.  That's just the truth of it.

 

If it sounds like I'm being hard on you it's because I am.  I've seen journals like this one disappear just as quickly as they showed up, especially due to improper money management. 

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post #24 of 39
5/21/12 at 2:42am
Thread Starter 

Thanks, Rock, I will tighten up the stop loss. I also most certainly appreciate you being straight forward with me as well.
 

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post #25 of 39
5/24/12 at 9:37am
Thread Starter 

5/24/12

  • Exited 888 Shares of CIGX at $3.62

 

Decided to move on from the position and took profits today. Netted a 6% gain, on to the next one for me.

 

Total Gain: $3,221

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post #26 of 39
5/24/12 at 6:56pm

CIGX monster move today... good pick!

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post #27 of 39
5/24/12 at 8:53pm
Thread Starter 

Thanks, Stock King. Too bad I exited early, could have waited till the end of the day and netted an even higher profit. Oh well, a profit is a profit. On to the next one...
 

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post #28 of 39
5/25/12 at 12:46am
Quote:
Originally Posted by Xela22 View Post

Thanks, Stock King. Too bad I exited early, could have waited till the end of the day and netted an even higher profit. Oh well, a profit is a profit. On to the next one...
 

 

Dont sweat it. I lose out on money every trade, you can't always maximize returns. Its really the fear of loss that makes me pull the trigger to lock in what I have already. And it seems right when I sell is when the stock implodes and moves up. laughing.gif

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post #29 of 39
5/29/12 at 11:00am
Thread Starter 

5/29/12

  • Bought 777Shares of AUTH at $4.14

 

Nice looking daily chart, low float on this one as well. Holding now to see if the trade goes my way.

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post #30 of 39
5/29/12 at 11:33am
Thread Starter 

5/29/12

  • Exited 777Shares of AUTH at $4.275

 

Got a quick 3% pop and decided to take advantage of it and get out. It could go higher but wanted to grab profits here, will still keep it on watch.

 

Total Gain: $3,326

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post #31 of 39
5/29/12 at 3:41pm
Thread Starter 

5/29/12

  • Bought 460 Shares of OMN at $7.2056

 

Nice looking daily chart, low float, pinching bollies. Let's see what happens with it.

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post #32 of 39
5/30/12 at 3:45am

nice one on AUTH

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post #33 of 39
5/30/12 at 5:25am

what 1m in 200 trades.. eh.. if anyone could do that they would sell a book.

set a more reasonable goal.. like 25K from what your starting with.

Its not that easy once you get into higher amounts, or starting out low either.

 

Hes just playing stock so i guess his risk is somewhat limited as to the other securities. 3% inst that unreasonable however i wouldnt expect it every time..

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post #34 of 39
5/31/12 at 9:58am
Thread Starter 

5/31/12

  • Exited 460Shares of OMN at $7.0165

 

3% stop loss hit, markets pulling back again. Not taking a chance, decided to exit the position.

 

Total Gain: $3,239

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post #35 of 39
5/31/12 at 1:13pm
Thread Starter 

5/31/12

  • Bought 850 Shares of VRNG at $3.7955

 

Like the daily chart, low float. Keeping an eye on it, could move fast.

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post #36 of 39
5/31/12 at 1:46pm
Thread Starter 

5/31/12

  • Sold 850 Shares of VRNG at $3.68

 

Stop loss hit, tough market here. Thinking I might have rushed into this trade. Going to sit on my hands until market stabilizes.

 

Total Gain: $3,140

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post #37 of 39
5/31/12 at 3:41pm
Thread Starter 
Quote:
Originally Posted by Xela22 View Post

5/31/12

  • Sold 850 Shares of VRNG at $3.68

 

Stop loss hit, tough market here. Thinking I might have rushed into this trade. Going to sit on my hands until market stabilizes.

 

Total Gain: $3,140


Wow, talk about shaking the tree and then taking it back up. This market is loco lately.

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post #38 of 39
5/31/12 at 11:11pm
Thread Starter 

5/31/12

  • Bought 1225 Shares of IPAS at $2.5599

 

Nice daily chart, pinching bollies. Let's see if the market plays along.

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post #39 of 39
6/4/12 at 9:11am
Thread Starter 

6/1/12

  • Sold 1225 Shares of IPAS at $2.464

 

Stop loss hit, tough market here again.

 

Total Gain: $3,023

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