Trade recap for September 16th: Two 'never' mistakes

See the video for my important thoughts on a few horrid mistakes I made today. I was still up for the day but I should have made $1000 more than I did. Furthermore, I was lucky: my mistakes could have caused me much worse losses.

Today’s profit: $457.53

Disclosure: No positions. I have a disclosure policy.

0 thoughts on “Trade recap for September 16th: Two 'never' mistakes”

  1. hahah… Nice on the ‘Tim effect’!! Tim Sykes still did not want to admit it that his alerts causes some effect especially on small cap stock.

    Mentioned it once and calling me morons etc. insisting most of his trades were perfect breakout. Perfect breakout my ass!!

    1. A lot of what people call the ‘tim effect’ is just tim picking to enter stocks at pivot points. The tame move after Tim bought OPXA shows the size of the real “Tim Effect”.

  2. Bad thing about that trade was me not selling when the action told me to do so, it was plain as day watching the orders come in and seeing it stall at 4.24.

    The above mentioned is all in hindsight of course and it goes back to what you have said about mastering something, making a trade will become every day stuff and whether you win or lose you will know when you’ve made a good trade or a bad trade.

  3. Reaper is a trader with personality. Unlike douchebag tim sykes.

    Reaper if you read tim’s blogpost you can see the difference between his and your blog. Your blog is full of useful, good-intention comments. Tim’s blog is full of Tim-haters and Tim himself bashing the Tim-haters. Did you know he even bashed his own subscribers, those people who are willing to spend his hard-found money on him… Unbelieveable

  4. alvin, I think that’s more like tuff love.
    I would much rather take a good ass chewing once than to mess up twice, but I am a strange one though. 🙂

  5. Preston is an admirer of Reaper seems like. always see your post everytime. See you got a great role model trader with personality here.

  6. Tim’s early blog posts are a lot like reaper’s. After a while of people asking things over and over, I think he’s gotten frustrated. And while he may be stern with his followers, I think he really wants people to learn the game correctly.

  7. Reaper: On Scott trades Scottrade Elite it works the same way — yesterday I looking to make a fairly heavy buy into a sub dollar stock so I have everything filled out — then clicked on another chart I was looking at (C) and did not notice it changed my order entery screen with the new symbol, but left my old qty in there — I *almost* bought 20K shares of C — although looking at them that may have worked out in the next weeks, I really do not feel like going “ALL in” on them!

  8. long 20k GVBP @ .2613 … had best bid very low in pre-market. Some others who did same thing and got filled earlier already had their trades canceled. Hopefully mine doesn’t get canceled. Problem with this type of trade is if I sell I may be going flat or I may be going short. I won’t know until after the trading day is over today. 🙂

  9. When you get a sec….
    How do you trade in pre-market with a stock that does not do pre-market trades? I am used to using the nasdaq site for premarket quotes.

    Thanks in advance….

  10. FYI — at least one day pump on XODG – on scottrades restricted list so will require call in to them to purchase after open…

  11. OK thats it….I am DONE with scott trade.

    XODG – called in a order at .81 for 10K shares….put on hold
    Now at .85
    now at .87
    Hello…can I help you? — placed order now .92
    too late….99 cents now.

    Lets see 1.00 – .81 * 10000 = No longer a scott trade customer.

    Still trying to decide between IB and TOS – I have the TOS account opened but needs funding. Will start TOS paperwork now.

    Too bad…I just got used to the ST software and like it.

    TOS and IB’s software looks confusing at first. I am just going to spend some time in both today.

    Good luck to all today!

  12. SPDE … consildated at 8.. only 31 million market cap. still has room to grow, has been spiking the past few days, just got FDA approval, and this pattern is the pattern i was telling you guys about before… look at RTK VG WAVE CPRX TIV etc.
    I may go long between 1 and 2 this afternoon.

  13. Guess I’ll comment over here since Timalerts is down looks like hard this time…

    Man its a bummer there have to be limits of shares to borrow. You could see the fall of SPDE coming from a mile away.

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