So I made a bonehead short of OREX Friday eod at 3.47.
In chat before open I said yikes I think I'm in trouble,everything was screaming in pre and I figured I might be in trouble...oh I was,OREX ran off to 4 quick,I covered at 4.02 for a 14% loss BUT I wanted to see the $4 hold,cause I was determined to try again ..but this time LONG.
I got a hold of that 4 mark at 4.10 so I flipped over long at 4.10,selling at 4.49(it hit 4.79,see I'm not that great with exits,like Tim says,you can do better) recouping 10% of that 14% initial loss.
It all adds up...and yes another reason the pdt rule stinks,no flexibility or your trades are gone
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6 comments:
Are you worried about what will happen to the day rangers once the institutions and hedge funds get a hold of this method? You seem to be getting more and more popular and this edge you have will be gone in some years. It seems like the big boys will disrupt it or diminish them to a big extent.
Big boys can't trade a method like this. Muddy moves a couple thousand on each trade. The institutions have to move millions of dollars and can never be as nimble as Muddy. These types of strategies will never work on a grand scale, which is great!
"The institutions have to move millions of dollars and can never be as nimble as Muddy"
I know. but hedge funds can
NOBL--- looks like a gapper tomorrow
Same problem for the hedge funds, too much money to manage. They're moving millions of dollars and even if they can be nimble they can't invest with Muddy's methods without influencing stock prices and wiping out there own profit potential.
then who are we the average retail investors trading with intraday? (rhetorical)
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