Comments on: Trade recap: Welcome to the suck

By: Reaper

Reaper — Wed, 02 Dec 2009 01:01:39 +0000

The chart doesn’t matter. It was a pump & dump. There is a limit to how much these things will fall in a day; they’ll usually bounce once they are down 50% to 60%. That being said, it was a risky trade.

By: bp

bp — Wed, 02 Dec 2009 00:58:03 +0000

What was your reasoning on the entry for RBTI? Looks like based on the daily charts this thing doesn’t have any real support until 4ish?

By: Preston

Preston — Tue, 01 Dec 2009 22:20:16 +0000

Yeah I see it now, I kinda thought you might take it easy today after your traveling.
By the way I’m getting into the IL chat, catching on and understanding more of what it’s about. It will be nice when I get myself out from under the PDT so I can trade more, but I am not going to use that as an excuse to lose money faster. I’m doing pretty good with my daytrades now looking for good setups and I’m getting to the point where I think I can handle unlimited trading, just because I have unlimited trades I would like to keep looking for good setups.

By: Reaper

Reaper — Tue, 01 Dec 2009 21:29:02 +0000

hmm, I’ll give you the benefit of the doubt since it is hard to read the above trades. All my trades were only halfway decent or only mildly dumb except for my 25% loss on RBTI.

By: Preston

Preston — Tue, 01 Dec 2009 21:21:27 +0000

Was it SEED, kinda hard to tell between that one and NLST but you held SEED for a long time, at least for you. You did make some back on NLST later in the day.