Trade recap for June 16th

Not much to report today. I continue to be distracted and it is always better to risk missing good trades than to try to force it and end up making bad trades.

Daily profit: $8.01

09:27:31    AMEL    S    0.939    1000    ARCA
08:17:23    AMEL    B    0.93    1000    ARCA
+    SLD    2,700    BDCO    false    Stock    .523    USD    ARCA    09:56:13        7.06        null
+    BOT    2,700    BDCO    false    Stock    .510    USD    ISLAND    09:59:04        6.89        null
+    BOT    2,809    BGBR    false    Stock    .325    USD    ARCAEDGE    10:22:17        4.57        null

Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

0 thoughts on “Trade recap for June 16th”

  1. Yeah I know the feeling, and I bet it’s a lot different for you than it is for me. When I consider trading for a living it’s tuff to try to understand what must happen every day. I read through all of your blogs and most of the comments and it seems nearly impossible to do it consistently and be profitable like you are.
    People like me that sideline trade and hope to make a profit while steadily feeding the account, trying to justify the learning curve that may never surface and reveal itself. I can safely say that what I have learned from following you is that this is no picnic, lately because of work constraints I can not trade as much and it has made me realize that total commitment may not be enough. This is not to say I will stop, but there are some things in life you are not meant to do. Do I have the mental ability at my age to devote myself to this, it’s not only mental but it’s time as well, there are limitations on what a full time employee can do. Sure, it can be said it’s a hobby, and that’s fine, but really trading full time and spending the time you do every day has to be a passion.
    It all goes back to one of your blogs about mastering something, 10,000 hours, it sticks in my head.
    Oh well, my ramblin, I know you miss it. 🙂

    Later

  2. Preston,

    It is arguably true that day trading, even in this style is not for everyone. Worse, you spend a lot of hours in researching plays and all of this is underestimated by many.

    Small accounts are limited, too. I can hardly imagine anyone making a go of it without at least 30K. It is true that penny games are tailored to smaller balances, but in the end capitalization still matters for a host of reasons.

    Without a total commitment and lifestyle, it can be hard.

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