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Monday, December 11, 2006

The risk of NOT being a daytrader...


You leave Friday afternoon owning a stock that closes at $19.55.

You come back Monday morning owning a stock that is trading in the pre-market at $3.75.

There is something to be said about closing all positions in the same day, and not holding any overnight.

Go make some good trades - who knows, maybe NUVO will present an opportunity!

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Dana said...

That will get your week off to a bad start!

jeffpaz said...

I'm in NUVO :(

NO DooDahs said...

Risk works both ways. Stocks gap up, too.

Sam said...

True, but I would rather not have the risk at all.

Trader-X said...

jeffpaz, say it isn't so!

T.C. in Orange County said...

Speaking of crashing, what happened to Trader Mikes blog?

Russell said...

Oh thats evil.
our power going off for the day here is San Diego. Best i see right at this moment is ICE on the 15 min.
Setting up as i write this over the 5th bar high. Hope it works for some of you.

Back at it tomorrow.


Russell said...

Well, That stop came quick (re Ice). I stopped under the setup bar's low.
The potentail target was 115.72 (the fib extension). So the trade had about $3.50 of potential upside for about .75 of risk. About 4.5 to 1 potential. Excellent trade bad outcome imo.


Trader-X said...

re: Trader Mike. Not sure, I am getting a lot of weird stuff. Mike, where are you?

KayakHandy said...

Sometimes Fundies are important!

So Sorry jeffpaz...I sure hope your kidding.

I traded a few non X type of trades today. SHLD, AIG and BAC kind of setups for the long side and a continued short swing on AMD.

TradingGoddess said...

Mr. X,

Wanna take a stab at it?

TJP said...

That's a trainwreck