Thread: RealMoneyIssues' Account Talk

Originally Posted by RealMoneyIssues

Grew my paper, sold @ $46 from $40, so "theoretical paper" gain of 15%...

Going to sleep well this week-end all in paper cash

So, I have a simple goal. More good trades than bad trades, no matter the gain. I know I will be stopped out of a lot of trades because that's what happens when you put in a stop.

But, a 0% gain is better than a 6% loss, no matter your position size...

I am planning to have 1-2 good trades a week (I know, a little aggressive) and stop, no matter the gain...

Biggest question I have at this point is whether the market is topping or consolidating...

Next week's goal ____% in 2 trades.

So, missed out (couldn't pull the trigger) on DUST this morning even though the writing was on the wall...

Didn't make anything on DUST, but got filled at $41.6 on NUGT to see if I can grow my paper a little more.

NO whammy, no whammy, no whammy...

Come on NUGT... Might cut out at $46.20, lets see how this goes


Sent from my (Daughter forcing me to use an) iPhone using Tapatalk...

Originally Posted by RealMoneyIssues

Come on NUGT... Might cut out at $46.20, lets see how this goes


Sent from my (Daughter forcing me to use an) iPhone using Tapatalk...

Yeah, not going to happen since the markets reversed course... did something happen at 11am EST or was it just profit taking time for the institutional investors?

Now the markets are down big and GDX is down too... really?

About to get stopped out... 6% up to break even in 2 hours, yuck

Stopped out, no paper for me

Time for NUGT to skyrocket...

Sent from my (Daughter forcing me to use an) iPhone using Tapatalk...

Originally Posted by RealMoneyIssues

So, I have a simple goal. More good trades than bad trades, no matter the gain. I know I will be stopped out of a lot of trades because that's what happens when you put in a stop.

But, a 0% gain is better than a 6% loss, no matter your position size...

I am planning to have 1-2 good trades a week (I know, a little aggressive) and stop, no matter the gain...

Biggest question I have at this point is whether the market is topping or consolidating...

Next week's goal ____% in 2 trades.

May need to consider:

Revising my trailing stop % - or -

Profit taking level

Anyone have thoughts on a good trailing stop % for a 3x ETF?

I might consider taking profits/setting a stop at 5% instead of holding out for 10% which may require more trades (must watch the PDT rules).

Thoughts???

Oh, I re-learned a lesson on stop orders today...

Can anyone (besides the seasoned folks here) explain the difference between a Stop Limit order and a Stop Market order???

Oh, wait... only a few people come by the dark alley way of the RMI Account Talk... If no one answers by the morning, I will post the answer

I've given this a little thought a few times. I'm not ready to fully investigate it yet, but here are my thoughts.

1) Time frame.

If you are a legit pattern day trader. No problem. However, if you have to deal with avoiding being labeled a pattern day trader and you have to comply with T+3, these facts have to strongly factor into a stop-loss strategy. You don't want to end up being penny-wise and pound-foolish. (Being stopped out to protect a small profit, only to miss the run up due to T+3 or pattern day trading restrictions.)

2) Statistics.

With point #1 in mind, perhaps one can do a statistical analysis on the GDX price action to determine the "normal" price range, and act when prices are near/out-of said range. This can both lock in profits and stop losses.

3) Brute-force Simulations.

What I do with most things trading. This method would take a model that's already built and "re-run" (EDIT: back-test) it 100's/1,000's of times with different profit-taking and stop-loss settings. It would then report the settings that were most profitable.

4) Manually.

Simply Brute-forcing in slow motion, without the need for a trading system/model. Review previous trades. Do "what-if" scenarios with different stop settings. Keep a database of the results so that the next trade can be added to it, and the results then recalculated.

Originally Posted by RealMoneyIssues

May need to consider:

Revising my trailing stop % - or -

Profit taking level

Anyone have thoughts on a good trailing stop % for a 3x ETF?

I might consider taking profits/setting a stop at 5% instead of holding out for 10% which may require more trades (must watch the PDT rules).

Thoughts???

Originally Posted by userque

I've given this a little thought a few times. I'm not ready to fully investigate it yet, but here are my thoughts.

1) Time frame.

If you are a legit pattern day trader. No problem. However, if you have to deal with avoiding being labeled a pattern day trader and you have to comply with T+3, these facts have to strongly factor into a stop-loss strategy. You don't want to end up being penny-wise and pound-foolish. (Being stopped out to protect a small profit, only to miss the run up due to T+3 or pattern day trading restrictions.

2) Statistics.

With point #1 in mind, perhaps one can do a statistical analysis on the GDX price action to determine the "normal" price range, and act when prices are near/out-of said range. This can both lock in profits and stop losses.

3) Brute-force Simulations.

What I do with most things trading. This method would take a model that's already built and "re-run" it 100's/1,000's of times with different profit-taking and stop-loss settings. It would then report the settings that were most profitable.

4) Manually.

Simply Brute-forcing in slow motion, without the need for a trading system/model. Review previous trades. Do "what-if" scenarios with different stop settings. Keep a database of the results so that the next trade can be added to it, and the results then recalculated.

Ouch, my brain hurts... I will go back and re-read this next week after I get my paper turned in...

Point, I am also trying to make sure I get stopped out at my 6% limit (assuming the trade goes against me from the start, stopped out at break even (when it goes with me and gains 1%), or find a profitable point to take my gains and run...

Today I could have had 5-6% depending on my trailing stop (if I had sent one), but since my day job gets in the way of trading, I set a break even stop (sans fees) to save my paper in case of a reversal. Had I seen the gain up until the institutional traders got back from lunch, I might have sold... alas, I was not near a computer or a phone.

Thanks for stopping by

Originally Posted by RealMoneyIssues

Today I could have had 5-6% depending on my trailing stop (if I had sent one), but since my day job gets in the way of trading, I set a break even stop (sans fees) to save my paper in case of a reversal. Had I seen the gain up until the institutional traders got back from lunch, I might have sold... alas, I was not near a computer or a phone.

I would have bet money you sold once it started to fall off the highs...glad I didn't bet.

Originally Posted by userque

I would have bet money you sold once it started to fall off the highs...glad I didn't bet.

Wasn't available to see it happen or I might have, especially after that first big fall...

Anyway, only make PAPER bets on anything I do... wouldn't want to be responsible for you losing real, hard-earned money