Tuesday, October 26, 2010

True isems . . . .

Don't hold on to losers to long, it will eat you alive. If you are in a losing position wait until you recover some before you sell, or sell small lots of the position at a time. Ex: if you have an open position of $25,000USD, and the market has gone against you in a big way, you may want to sell 20% when the market goes back in your favor some instead of the whole $25,000 lot. These are rules to live buy and put into you master trading plan.
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2 comments:

  1. RyanNovember 8, 2010 at 9:22 AM

    Hi Bill, I found the Fast Money website and had a couple of questions. I sent an email via the website contact button over the weekend but I'm not sure if it went through, so I thought I would write on your blog.

    1) I saw that the profit numbers per week are based on a starting investment of $25,000 ($250 goal per day, $1250 for week, etc), but then I saw that you recommend a share size of $25000 divided by the cost of the stock. Therefore, I was wondering if that means you are actually investing with around $150,000 to get the results you are getting since if you had 6 stocks in play at the same time, that would be $150,000 at $25,000 per divided by the share price.

    Is the chat room/feature a text based feature or voice-based? I think I read it is live audio calls, but just wanted to verify that with you.

    I like the concept and will likely do the free trial. Thanks for the help

    ReplyDelete
    Replies
    1. bebrentsFebruary 11, 2012 at 6:56 AM

      Im a little late in you reply. My account is on margin and am able to invest 3-4 times my equity but at the end of the day iam 100% cash. This is a live site I come on @ 8am CST and buy 8:10 publish my 2 high/low points for each stock for the day, then @ 8:15 I start announcing my commentary on what my ideal buy/sell for the opening will be. At the opening bell I announce what I am doing through out the trade. I usually make 2-3 trades and am done for the day. Life is short have fun learn to Fast Money trade. Hope to see you in the trading room.

      Delete

I hope you will learn from my years experience as a professional trader.

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