Took a loss on 2 failed afternoon breakouts today
Still holding JOEZ
P/L: $-147
I'm opening a Sogotrade account and moving some of my Interactive Brokers funds there. I'm pissed that I missed the gimme short on NXTH today, and Sogo had borrows. Of course I never bothered to check Thinkorswim and apparently they had shares.
This will give me 2 accounts under Genesis....my Cy group account (where I can short stocks under $3, but can't play OTCBB's) and the Sogo account (where I can play OTCBB's and can access the web trader from work, but I can't short stocks under $3).
Overall this will give me 4 trading accounts: IB, TOS, Sogo, and Cy Group.
I'm debating whether to move the Cy account to SogoElite. It's a tradeoff. I can freely day trade with Cy, and it's direct access so executions are lightning fast, but I pay around $100/month in data fees. Plus I have to pay ECN fees. We'll see....it will also depend whether I can have a Sogo account and SogoElite account simultaneously.
WATCHLIST
Short: JYHW
Long: AENY MITI SFN APPA CPE GNXP JOEZ
Disclosure: Long 1400 shares JOEZ. No other positions.
Posts
6 comments:
is there any way to scan for stocks that are moving NOW, i asked this of muddy and Nate, and the daytrader scan was brought up, there must be a
way of scanning for volatile stocks NOW? perhaps those unfulfilled breakouts would stop!ill try for high beta on stockfetcher, see what that does.
show stocks where close is .5 to 500
and add column beta
and volume is greater than 150000
No need to trade, just get some 3x emerging market short EDZ and let the down market work for you. China's about to go bust. Happened to the US after the '20 when they had a trade surplus and happened to Japan after the '80's when they had a huge trade surplus. China's turn.
Sogo told me that I couldn't have both a Sogo & SogoElite account at the same time. I had an old Sogo acct I hadn't closed and they made me close that to open an Elite acct.
Thanks for the info, Michael. Looks like I'll be sticking with Cy Group then.
Anonymous,
Stockfetcher isn't a real-time scanner. There's a 15-20 minute delay for the scans. I'm still able to find afternoon breakouts with it, though.
Keep in mind that the stocks I played DID have momentum. But not every afternoon breakout succeeds. I still have an 80% winning trade rate buying afternoon breakouts, so I'm not worried about having some failed ones. JOEZ is up this morning premarket so it looks like that will pay off if the move can carry through once the market opens.
There are real-time market scanners out there, like TradeIdeas, but they cost money
Well, Sogo just told me today that I can have both accounts at the same time, but only one can be a margin account. The regular Sogo would have to be a cash account.
If I do switch from Cy to SogoElite, I'll probably just open one under my wife's name so I can have margin accounts in both.
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