Full Time Trader, Day 1
Posted on March 27th, 2006
Written by Richard
Posted in: N/A (old archives)
[EDIT: 5/28/2007: I have re-reviewed these trades, to offer a fresh-perspective on them, now that I have more experience. Check out the updated trade review]
My first day of full-time trading! At least today, I didn’t feel much different trading without a net. That’s a good sign. I made three trades, two of which did only marginally better than break even. The first one, though, made a bit more money. A decent start, if a little cautious, I think.
The first trade was the profitable one… based on morning volatility. Scottrade finally opened up premarket trading, and I almost got into a bad trade that way. I am only watching for now.
These next two trades each had their execution frustrations. First, I had a big slip on a market order to exit the trade. Then, the following trade I made sure to exit with a limit order, but the trade didn’t get filled before the stock moved back off my target price! You just can’t win sometimes…
I didn’t make any trades after noon, partly because of some errands I had to run. I almost got into a good SEPR short play around 2:00 EST, but I was too cautious… I really wanted my first day to show a profit.
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.