Hi Boris Abbey,
Do you have an Instant Messenger for advising trade entries?
I realized that most of your trades last only five to twenty minutes. E-mails are too slow to catch the trades, and slippages could make a winning trade truning into a losing one.
Aaron
Hello Aaron,
I have realized that the E-mails are a bit too slow. The last trade I made I held much longer, but with the longer trades I have to be more careful.
For the time being, because of personal time constraints, I will continue to trade for longer period of times. My schedule has been a bit hectic lately - I am going to start trading full time in May and then I will send trade notifications via IM.
Boris
Hello Aaron:
I believe there’s an instant messinger service that comes as part of the package here at collective2, but I have not activated it yet or used it to advise subscribers about trades. Perhaps I will do this soon, but I do have some concerns about a flaw in the XP operating system that allows others to write or execute code whenever a messenger service is used. I have not yet found a way to close this security flaw.
My intention from the start is to post a high winning percentage of trades, and I expect to do 80% winners consistently. That being the case I am not pleased with how I am doing so far. I am not really pleased unless I am doing 90% winning trades consistently, and I think this is about the best that anyone can expect to do in the markets. Trades that are open are shown as losing trades here if they are down, and these trades do not lose money when they are closed many times, so this skews the numbers a little bit.
It would be hard for me to really describe my trade system in detail because it has developed over many years, but many of the trades I put up are set to close with a GTC (Good-Til-Canceled) order at a limit price. This price is often set from a reading of the chart on the stock and the state of the technical indicators at the time. With these trades if you can come close to the entry I got on your fill, you should do fine to leave the GTC buy or sell to close part of the order as is- with the price point I suggested. It is hard to have the discipline to do this many times, but in most cases it works out better to let the set up play out. If it does it will be a profitable trade, but the position size is also a good way to limit the risk involved. By the size of the position I take you can tell how much I believe in the trade.
Perhaps you can suggest some things about the messinger service used here, or tell me how well it works. I look forward to any comments or questions you have for me. I will always answer when time permits. During market hours things change sometimes, and I’m looking at hundreds of set ups many times. I apologize in advance if I do not notice your question right away.
Regards,
Ryan
