tag:blogger.com,1999:blog-1797814728390014124.post7829107700768044965..comments2008-07-30T15:12:16.056-07:00James Kriegerhttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1797814728390014124.post-85959836145446525882008-07-30T15:12:00.000-07:002008-07-30T15:12:00.000-07:00longshort,<BR/><BR/>Yeah, being down $2600 is tough. But I also lost money my first few months and have since gained it all back.<BR/><BR/>The biggest things I would say are:<BR/><BR/>1. Don't try to make your $2600 all back at once. Just focus on good high probability trades and it will come back<BR/><BR/>2. Take your losses quickly. Don't allow yourself more than a 3-4% loss on any position. This is SO important. Even if you have 5 losing trades in a row, if you take your losses quickly, they won't hurt you very much.<BR/><BR/>3. Be picky about your trades. July has been by best month so far, yet I've traded less this month than I did during other months. And I'm 25% up *despite* still making mistakes and some bad trades. This is because I'm trying to be very picky about my trades and only focusing on what I think are high probability setups.<BR/><BR/>I'll post my month in review in the next day or so.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-88745670530071701262008-07-30T12:34:00.000-07:002008-07-30T12:34:00.000-07:00I was talking about my bets...<BR/><BR/>I have started following tim's blogs but the thing is all his recos are to short otcbb stock which scottrade doesnt allow me to. I am opening an account at TOS and hopefully should be start running from tomorrow.<BR/><BR/>I started trading with 5K and now I am almost 2600 in losses. I want to recover my money and have seen you made 25% profit in this month which is awesome.longshort28noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-62825008032981013852008-07-30T10:48:00.000-07:002008-07-30T10:48:00.000-07:00Hey longshort,<BR/><BR/>Did you mean that most of your bets have gone wrong for you, or most of my bets?<BR/><BR/>Two places that I highly recommend are timothysykes.com and Mike's chatroom at greenonthescreen.blogspot.com. These are where I've learned the most...but I'm still learning and have plenty to learn.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-74948309524799442182008-07-30T08:45:00.000-07:002008-07-30T08:45:00.000-07:00Steve,<BR/><BR/>I have been following your bolg for last 2-3 days and most of your bets have gone wrong for me and I am down 2600 in 2 weeks by playing on Dow companies. Market and my luck have been very volatile lately. I would like to follow your trades from now on.longshort28noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-61864272372176301582008-07-30T08:25:00.000-07:002008-07-30T08:25:00.000-07:00No, the PDT rule only applies if you buy &amp; sell the stock *in the same day*. My 3 trades here were all overnight trades.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-34529498066540266692008-07-30T06:12:00.000-07:002008-07-30T06:12:00.000-07:00By PDT rule, aren't you not allowed to trade today since you had 3 trades yesterday? Idon't understand PDT rule , a buy and a sell on the same stock is considered a trade right? in that case since your account is less than 25K, aren't you done with?lakhaninnoreply@blogger.com