Trading Plan for 03-16

luckystar2006

Hutong was down for >1hr during which I already went in/out for 2 trades (100 Calls with >30% gains and then 100 Puts with >10 gains).  Now, I stay nimble.

luckystar2006

I was typing below story to share on here while Hutong was down.  Here it's:

I believe most of you (wannabe active traders) don't have training like some of us did during the old days as a day/swing trader at some trading/boutique firms.  You had to go through 3-week of training as an active trader where you had to pass a final test before becoming a real trader.  

Once I passed the test, I was given with small buying power to test my trading skills.  For those beginning days, each time when I got stopped out by the system (~5% of accumulating loss), the system would shut me out which means I had to go home (sometimes, I got stopped out ~ 9:40am.  That is 10-minute away from market open and I had to take the bus home while my trading seat was not warmed up yet.)  If I got stopped out for 3 consecutive days, I must either went back to the training room or quit.   If I went back to the training room 3-time in a row, that means I weren't allowed to get back to that building anymore.

Within half year working as a full-time trader there (only few could make it), my buying power grew up to $500k, which was a lot to go in/out per trade.  But that's how I developed my trading skills to become as precisely as possible and mentality to trade big for each transaction.

Overall, I guess this is the most disadvantages for those who wannabe active traders to become like me from what I went through.

luckystar2006

I don't recommend anyone to hold a short position overnight because we already had 3 consecutive down gaps.  So, a chance for the fourth one is there, but there is high risk involved.  I'm done for the day with no holding overnight.  

jukifox

luckystar2006 发表于 2016-3-16 02:25 PM
I don't recommend anyone to hold a short position overnight because we already had 3 consecutive dow ...

谢谢分享，HUTONG难道访问量这么大，关键时候DOWN了。

HappyMoney

luckystar2006 发表于 2016-3-16 02:16 PM
I was typing below story to share on here while Hutong was down.  Here it's:

I believe most of yo ...

Thanks for shareing your story. I have a long way to go to get where you are right now.

美眉妹

源济

谢谢分享！

ice_tea

interesting story
thanks for sharing

TopTen

luckystar2006 发表于 2016-3-16 02:16 PM
I was typing below story to share on here while Hutong was down.  Here it's:

I believe most of yo ...

Thanks for sharing!  Did they allow you holding positions over night? Can you trade secuirties other than ETF at that time?

luckystar2006

TopTen 发表于 2016-3-17 07:05 AM
Thanks for sharing!  Did they allow you holding positions over night? Can you trade secuirties oth ...

Stocks on Nasdaq exchange and ETFs with high liquidity (but no 2xETFs were allowed and there wasn't any 3xETFs back then.)  For overnight holding, I had to proof (by a couple of small trades) that my swing trades were profitable.  However, maximum 25% of my buying power were allowed to be used for overnight positions.