Goal for day: Very tight risk managment, keep losses to max. 50-60 per trade
Setup: --------------------------Shorting daily runner
Entry: --------------------------15.26
Shares: -------------------------200
Stop: ---------------------------15.50
T1: -----------------------------14
T2: -----------------------------
Reward:Risk Ratio (T1): ---------5
Exit: ---------------------------15.50
Profit/(Loss) Without Commission:--- -47.55
Comments:
got squeezed
i tried later: LAKE with 300 shares and added to loosers 5 times on the way up
it was a trial to see whether this could work, building a bigger short position
i would have never done this with real money
that trade was down more than 3'000 at one point, as I had built a position of 1'500 shares
with an average price of ca. 16.50
it was up also 600 temporarily
not posting this, as it was really a trial, which I would never do in reality with that type of size
in general, i do need to stay from these crazy low float daily runners in the morning of the first day or play them long
(issues with prodigio all day, numbers might be a little off)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-10-09 10:42:33 | LAKE | sell | $15.220 | short |
2014-10-09 10:42:33 | LAKE | sell | $15.304 | short |
2014-10-09 10:47:23 | LAKE | buy | $15.500 | short |
2014-10-09 10:47:23 | LAKE | buy | $15.500 | 0 |
hi there. I am still on a simulator and use prodigio.
i have not decided what to do about live trading and which broker to use.
i think centerpoint is the best for my style of trading - mostly shorts - but they require 50k. i also have a suretrader account, which is dorment / emty at the moment. if you have questions, feel free to e-mail me reisem1508 at yahoo.de
Ah ok just asking since I tried hardly to find available shares of LAKE to sell short.
check out centerpoint securities. they are the best broker for shorts.
they seem to have shares, for these crazy, silly priced runners, that will eventually fall sharply.
They seem to be pretty good, but also very expensive in commissions?
you find this very expensive? would be interested in your view?
depends on how many shares one trades, etc., i guess.
Hi Jens, when clearing thru Wedbush they have an additional 4$ per trade site as I saw in commission, which is very expensive in my opinion. The other clearer (ETC) doesn't has that additional fee, but Im not sure if ETC still has that good list of available stocks for shorting? Maybe Im wrong.
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Hi Jens, may I ask what broker do you use?