A very frustrating day so if you do not like to read whining do not continue. You have been warned.
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First on all this has been a very flat boring day for most traders. For some mystery, I was given a lot of trades that setup to my liking. I wanted to do battle with the mouth again. His picks looked like good shorts. I tried and tried to get filled on GSS in the 4.85 to 4.95 area but could only get 100 shares filled. I made only $20 on the trade. Later after the open, I made $40 going long it before the collapse. I went after CYNO right after the open trying to selling 2000 shares 32.23. BID/ASK was 32.20/32.28 and I got 100 filled before it started falling. I chased but no luck. Made $25 there. I could have shorted the next bounce but I was looking somewhere else by then. Tried shorting 2000 BRLC in premarket at 8.55. No shares.
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Ok - on to my favorite steels which look red hot with the takeovers happening. Good buy signals on AKS at 31.40 (9:50am) 31.90 (10:15) and not great but ok at 32.10 (10:50). In NUE at 66.0 (9:50), 66.30 (10:05) and 66.35 (11:05). I got in late on two of the six and my stop took me quickly out of one.
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So why am I frustrated - I saw 9 trades today (along with a few I did not mention - bottom fishing HANS or going long AA/AL in premarket). All 9 acted the way I expected. All 9 should have gone for gains of $300 plus and my result - 6 trades, all winner and net +$160. Who is God's name goes 6-0 in trading attempting to trade 500 to 2000 per trade and makes only 160 dollars????
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This game is very hard to winner. On days that the market Gods smile on you, you must take fill advantaged of or you will not last in this game.
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The numbers - Gross +185, net +155 and shares traded 4600
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First on all this has been a very flat boring day for most traders. For some mystery, I was given a lot of trades that setup to my liking. I wanted to do battle with the mouth again. His picks looked like good shorts. I tried and tried to get filled on GSS in the 4.85 to 4.95 area but could only get 100 shares filled. I made only $20 on the trade. Later after the open, I made $40 going long it before the collapse. I went after CYNO right after the open trying to selling 2000 shares 32.23. BID/ASK was 32.20/32.28 and I got 100 filled before it started falling. I chased but no luck. Made $25 there. I could have shorted the next bounce but I was looking somewhere else by then. Tried shorting 2000 BRLC in premarket at 8.55. No shares.
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Ok - on to my favorite steels which look red hot with the takeovers happening. Good buy signals on AKS at 31.40 (9:50am) 31.90 (10:15) and not great but ok at 32.10 (10:50). In NUE at 66.0 (9:50), 66.30 (10:05) and 66.35 (11:05). I got in late on two of the six and my stop took me quickly out of one.
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So why am I frustrated - I saw 9 trades today (along with a few I did not mention - bottom fishing HANS or going long AA/AL in premarket). All 9 acted the way I expected. All 9 should have gone for gains of $300 plus and my result - 6 trades, all winner and net +$160. Who is God's name goes 6-0 in trading attempting to trade 500 to 2000 per trade and makes only 160 dollars????
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This game is very hard to winner. On days that the market Gods smile on you, you must take fill advantaged of or you will not last in this game.
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The numbers - Gross +185, net +155 and shares traded 4600
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