I came to Trade King in March.  I read a lot of the group posts..and the forum posts..and didn't have much to say at first.   Then I got up the courage to start offering my own little thoughts on some things.  I have spent a lot of time with charts...because I honestly believe they give you a clearer picture of what is going on, than fundamentals do.. especially in the market we have today.

Today I believe I matured greatly as a 'trader'.   I got an email from TK yesterday, informing me that I had finally crossed the line and did 4 Round Trips in less than 5 days, and was being coded a Pattern Day Trader.  This actually turned out to be a very good thing in my case, because up to now, I have been holding back from making too many trades.. just to avoid the label...but that was foolish, because I have lost a lot of valuable time making real trades.

I had one stock that came into my focus last night..and bought it in Post Market based on supposedly bad news about the company... Illumina Inc.   Yes, they didn't have that great of a quarter, but not nearly as bad as it was reported about.. but the reports were enough to send the stock  down over $7.50 in Post Market, and I bought it nice and low and sold at a very decent price.. all still within Post Market.  

I bought it again this morning in Pre-Market and had a very nice day with it..   9 Round Trips including 2 shorts. and I cashed on EVERY position I took on it.

I feel I am becoming much better at reading the charts, but saw some areas that need improvement, but at least the lesson didn't cost me anything..  ;)

I know that to others more seasoned than I am, by far, that what I did tonight after the trading was all done,  will seem stupid...but I printed my chart for the day and posted it on the wall next to me here.   Sorta like earning your first dollar... In my case it was spending a day doing nothing but trading and doing it well.

Happy trading...  /:)

We, immature traders with only 20 years experience, say: "trade well"

lol

Just looked at your Illumina trades on Wed and Thursday.

You had fun didnt you??

DavidDT Trading-to-Win.com said: We, immature traders with only 20 years experience, say: "trade well"

 I'm sorry.. I wasn't trying to insult those, like yourself, that know a lot more about trading than I do.  Sometimes the words I type, don't actually reflect my thoughts.   When I said I felt I had matured, I only meant in the spirit of where I started to where I have come...so far.  I realize I have a long ways to go yet, but "a journey of a thousand miles begins with but a single step"   ;)
 
I read your blog, and see a lot of what   I  have been doing, as opposed to what  I will be doing..   Come Monday, I expect to start 'thinning the herd' of stocks that I should never have gotten to begin with, so that I can concentrate more fully on those that I should be working with.

Thank you for the primer.


Happy Trading..  /:)

BeretDude :)
I was not sarcastic, just forgot to put a smiley face, my bad.
As a matter of fact I am quite impressed by your adventure in Illumina land (and I also read what you replied to other people in different blogs - sounds like you have a grasp on it).
Truly, trading unfamiliar stock after drop in premarket, having to reassess reasons for trading on a go is very impressive. (thou I try not to day trade too many "news of the day" instruments - I stick with /ES S&P500 futures - no day trading rules, good liquidity, high leverage,24x5 trading, I think one has to be ultimatelly familiar with short term trading instrument. Also, I am too lazy to place 20 trades per day - even when I day trade - I might open position and stay with it for few hours - for as long as variant perception and TAs stands the test of reality.
But - you already figured it out - quick learner)

Here is the chart of your "darling" - that is (IF I'd be trading short timeframes) where I'd be trading - compare with your entries/exits and see if you'd make more money that way.

ILMN 1min chart

On a day when you are not working at the day time - stop by in my paltalk chat room (8/9AM till 4PM EST) - room is not crowded, we don't talk a lot, but there are few good traders there. (You'll figure out how to find it :)
You might also find me in Disqus.
Also, my "blog" here is "just visiting" thing - I try not to solicite too much (Also, being naturally sarcastic and not liking sales people - I, from time to time, might "unintentionally", make some of local "I will sell you the secret" people look quite foolish. - which I try not to do - I have high respect for founders of TK (they are real stand up guys), I kind of was working at the same company (Broadway 26 back in 1999) where they came from.

Back to South Beach watching, fishing and drinking - really needed it after rainy CT - you guys are lucky to live there (FL) :)
trade well :)