Trader Mike has a nice, thorough post about the results of his day trading for the last year or so. I found it very interesting to compare to my own stats since I started day trading at the end of January.
Trading for a prop firm is different as I have more leverage (currently 10x compared to 4x) but I pay 10% of the profits to the firm. Plus I get cheaper commissions and someone who seems to be able to help account issues or problems resolve more quickly. If I had a lot of money, I probably wouldn’t use a prop firm, although there are some advantages. I think trading with a prop firm is a good idea for someone who doesn’t have a lot of money, but wants to try trading for a living.
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“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

This week I will feature one of my top students. The style he uses to beat his opponent dates back to the reign of the Yellow Emperor. I was impressed with this demonstration of his ability to harness qi energy. Here is a video of the fight he had in prison, caught on the security cameras (warning: it is gruesome).

Good morning, my name is Ugly, and I am a loser. I have it in me to do serious financial damage to my account.

The following alpha stocks are gapping up: SNDK, WIRE, TIE, ATI, ESLR, BWNG, RBAK, BOOM, AMR, ERS
The following alpha stocks are gapping down: PEIX, SIRF, HMY, TS, VRTX
The following volume advances are worth noting: ESLE, LDSH, XLI, TSCM, MED, WIRE, TRE, FTEK

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“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

Today was a choppy day - I struck out. As I mentioned before, after three failed trades (strikes) I turn off the computer and quit for the day. So even a bad day is kind of nice because you get the day off to do other things. Still, I’d rather make money every day. But the weather has been great, so it is kind of nice.

Maybe the next Warren Buffet is a computer? Computers are getting faster and smarter at an exponential pace, while humans remain about the same. Any disadvantages that computers have now, such as lack of judgement for anticipating change (mentioned in the article), won’t last much longer.

But the real advantage machines have over people is that they’re not human. Emotions trip up professional money managers like they do the rest of us. Pros hold on to plummeting stocks, not wanting to admit a mistake. Or they rush in when a stock takes off, often too late.

via tradermike

Good morning, my name is Ugly, and I am a loser. I have it in me to do serious financial damage to my account.

NTRI is gapping up big time.
The following alpha stocks are gapping up: NTRI, PEIX, BGO, ESLR, ATHR, TIE, HOLX, SIRF, SIFY, ERS, USG, ANAD, AUY, SLW, AEM
The following alpha stocks are gapping down: BLDP, HMY, TRAD, TS
The following volume advances are worth noting: IDSA, CECE, BLDP, ANDE, MGPI

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