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Rob_ee's first trades...

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Rob_ee

Joined
19 December 2006
Posts
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My initiation into the stock market has begun.

Bought RTM @ .048 Sold RTM @ .042

Total on trade $ 168.95 Lost.

May have been a mistake to trade a penny dreadful as my 1st purchase but it was the only qualifying trade based on my method.

RTM is the one and only penny dreadful in my watchlist.. other stocks which may qualify shortly are OSH if it makes a decent retracement, PNA if it breaks 35c, YML at 33c and the most likely is VCR @ 1.16.

So I traded my plan, $14880 left in the kitty (pitifull I know) but we all have to start somewhere.

ON a different topic ... I can buy Metastock V9 on EBay for $60 oz from a seller in Italy.

Is this legal (original copy.. not pirated).. will it install on my computer.
I am not interested in live data feed only EOD date..
My current supplier supplies in the 20061201.txt format.
Will metastock recognise the .txt extension or will I be wasting my money.

Many thanks.
If anybody is interested I will post my second trade when it happens, it may be useful for other beginners and amateurs (like me) out there.

Rob
 
Re: My 1st trade... I lost

Rob,

Have a look at bullcharts, its an ozzie product and I find it easier to code and seamless integration with tradesim (backtesting program).

2% of portfolio maybe max for pennies.. but with your captial you might be best to build up first... Drawdown will kill you..

zzkazu
 
Re: My 1st trade... I lost

Although your 1st trade has given you a very small loss, I wouldn't feel too bad about it.

Some regular traders have stated they have lost more than $200,000.00

You win some, you lose some, its just part of the trading game I guess.
 
Re: My 1st trade... I lost

Rob
Stick to your plan, only if it is going to work!
Which means you have to give it a few chances.
The only problem with your chosen stock was that it needed to unwind 14 months of "holders" that were out of the money until late November: So profit taking will remain a theme for a little while longer.
The entry "trigger" for RTM was pulled on 28 Nov 2006, when it backfilled the "gap" of 28 Nov 2005.
Good luck
Rob
 
Re: My 1st trade... I lost



Hi Rob,

Metstock can use .txt and many other formats, after
the are converted to Metastock, using the Downloader
program, contained within Metastock ... it's quite a
simple procedure, really.

-----

If you keep all your losses small like your first one,
then you have already learned a valuable trading
lesson .....

happy days

yogi



=====
 
Re: My 1st trade... I lost

My initiation into the stock market has begun.

Bought RTM @ .048 Sold RTM @ .042

Total on trade $ 168.95 Lost.
Click to expand...

RTM is the one and only penny dreadful in my watchlist.. other stocks which may qualify shortly are OSH if it makes a decent retracement, PNA if it breaks 35c, YML at 33c and the most likely is VCR @ 1.16.
Click to expand...


Looks like you want to enter after a rally is established and exit after the pullback.Is that true?
 
Re: My 1st trade... I lost

GREAT

in hindsight you will realize how lucky you are :--- sort of rattles the confidence --- arrogance --- welcome to the club

Forget learning the Market( to big for you and me ) ---- NOW LEARN to TRADE.

Cheers
 
Re: My 1st trade... I lost

Ten years plus
250 trading days per year
4 trades per day
Approx. 10,000 trades

Took my ten thousandth trade today and LOST
 
Re: My 1st trade... I lost

Rob_ee said:
Bought today at .048 and firm exit at .038 (at worst) with a trailing stop (upwards only) should this follow in the steps of the other big gainers recently
Click to expand...

Rob_ee - this is the quote from your initial thread - you said you had a firm exit of .038 and a would also set a trailing stop (upwards only).

Then there's this:

Rob_ee said:
Bought RTM @ .048 Sold RTM @ .042
Click to expand...

My question is - why did you sell at .042?

A few other comments - the day that you bought was a significant break upwards for the stock - in a situation like that where trading a breakout, a tighter stop is generally a good idea - the .038 stop seemed pretty wide when I read it at the time.

Anyway would be curious to hear the thought processes you went through when doing this trade - what was the criteria that led you to enter, what was the positive outcome you were hoping for, what was the logic in setting your initial stops (and what were they?) - and what was the reason for exiting today at .42. The more you understand the answers to these questions the more likely you are to learn from this trade and succeed on the next one.

Still congratulations on taking a loss (many don't learn this), preserving your capital and living to trade another day. That being said you obviously won't get too far if you make this a habit lol. Good luck with it.
 
Re: My 1st trade... I lost

Thanks people for the interest and encouragement.
I'll try a respond….

Zzkazu > Have a look at bullcharts ..
Isn't this one of the more expensive packages … I know you get what you pay for but at this stage I only need to know what a recent HIGH was in the last 90 days (not necessarily an all time high) … my entire method is based on that idea.
I really don’t care when MA have crossed or the MACD is rising .. Just not experienced in reading all those indicators out there they only confuse me at this early stage.

rederob > Stick to your plan only if it is going to work
Good advice, I intend to analyze every LOSING trade I have from now on and modify the plan if necessary.
No need to yet after all only 1st trade. For example it may have been a mistake to buy near the top of a LONG up bar, retracement was probably inevitable.

yogi > Thanks for the info on the metastock Downloader, now I know

Wysiwyg Looks like you want to enter after a rally ...
Mostly .. I'll add a little more further down

bronte Took my ten thousandth trade today and LOST
Congratulations on lasting so long … gives me something to aspire to

cuttlefish Quote from initial thread bought at .048 and firm exit at .038 at worst with a trailing stop (upwards only) Why did you sell at .042
Note the words "at worst" and "trailing stop upward only" I have several rules that may propel me out of a trade from worst case set … one is that if the price declines 7 days in a row (not a single green candle) then I assume that people have lost interest and it may decline even further, in that case I don't wait and bail earlier.
Of course this may be the bottom and it may retrace upward again … one never knows, BUT I can't make it up as I go along. Must stick to the plan until such time as it proves faulty.. One loss does not a season make ( now where did I get that from ?)

Anyway would be curious to hear thought processes when doing trade .. What was criteria to enter etc..
I have read many books and thousands of posts here to get an insight as to how people operate and find something that suits me.
The one thing that really stood out ABOVE all else was the logic in buying something in an UPTREND rather than the "topping up" scenario
whilst a stock is declining … how do you know for example that it won't get cheaper still … but then what do I know, still learning

Basically I look for a break in a "RECENT" previous high, take a small position ( a feeler trade if you like ) one tick above.
The reason for a small position is two fold.. Can set a wider exit stop with fewer shares and keep loss very small if I am wrong
If my purchase trends upwards I will BUY MORE (pyramid up ?) and set a new upward stop, do this many times hopefully, the more the better
There are a few other rules .. Not to many to keep it simple.

So RTM gets one last chance .. One more try if it gets to .051 with a tighter stop this time, 2 loses in a row on a particular stock and it gets
dropped from the watch list.

My next most likely candidates are VCR @ 1.16 and AOE @ 1.26 .. There are 24 stocks on my watch list… at this stage I do not have a
charting package as yet .. When I do get one (soon I hope) then I can look at more stock.
With my limited capital I can have no more than 3 open positions at any time BECAUSE I need cash in reserve in case I have to pyramid
upwards when I am fortunate enough to get on a rising trend

I figure I can last 60 losses in a row before I am wiped out.
If I am that incompetent I probably should not be trading shares.

What I would really like to see is a "FOLLOW MY TRADE" type forum where amateurs (like me) can exchange ideas and rational
I can always learn more … or would that be considered RAMPING ?

Sorry for the long winded reply
Rob
 
Re: My 1st trade... I lost

One of my first trades was Anvil at 3.5 sold at 90 Dyl at 15.5
sold at 30 so the pennies can pay, especially if you dont have a big bank,cos you need the gearing to make a quid.
Also you need more guts than I have. Had I listened to that small inner voice and acted, I would be laying back in the Mediterranean this morning,not preparing to go to work.
 
Re: My 1st trade... I lost

rob_ee - good to hear that there was a reason for the exit that was part of your prior strategy - sounds like you're taking a pretty sensible approach to all this - good luck with it.

At one stage I think there was a follow my trade thread on here but I don't know whether its still around.
 
My 2nd Trade... better this time

Better result than my 1st Trade RTM Lost

Now I am not posting this to impress people with my cleverness or trading prowess
but rather for an analysis by the more experienced (if anyone may care to contribute) on how I may have done better
because I did give back quite a bit from its HIGH.

I have a trading plan in place which I am quite comfortable with…. Ie .. Only buy New HIGHS or Recent Highs
Keep in mind that I have had MS for a very short time and my DATA only goes back to Dec06
The Exploration looks for new Highs within a certain price range AND a certain Volume range AND certain days ago

So it suggested several as good buys .. My trading capital is only 15K NO MORE than 3 open positions possible at any one time.
On the 22 Jan I entered SMY @ 2.37 with a WORST stop scenario of 2.04 based on a recent low on the 10 Jan

Since I entered the NEW high occurred on the 30Jan of 3.39
After that my RISING trailing stop was raised to 2.99 based on the BAR on the 6 Feb

So unfortunately I exited today … I say unfortunately because I gave up 40c for $800 possible better result.

I will re-enter this again if/when it hits $3.40 In fact that was to be my stage 2 PYRAMID up if it had retraced from
the recent trough but it was not to be.

I have no intentions of doing any RAMPING so will only post trades AFTER they are completed WIN LOSE or DRAW.
I am sure that no one is interested if I bought 10,000 of this or that and I am positive that it will shoot up tomorrow
But an analysis of how completed trades may have been handled better from the experienced traders may benefit the
new members here

I would love to belong to the 3% CLUB
Time will tell

Rob
 
Re: My 2nd Trade... better this time

Hi Rob, if you don't mind I might merge this thread with the one you started on your first trade just to keep all the information together.

If you would like me to change the title of that one to reflect your ongoing analysis of your own trades I am quite happy to. Just let me know.
 
Re: My 2nd Trade... better this time

hi rob_ee,
when I look at my trades after it's completed, I try not too look at what happened afterwards in that kind of way-
"I could have made this, or I should have done that" isn't really a good way to keep your head in the right place.
If you've done the work beforehand(you are trailing your stop at that level for a good reason) then it's a matter of
giving yourself a pat on the back-you followed your plan and that's good.

As long as your plan is going to yield you a positive result over time, then all you gotta do is follow it and you'll be
in whatever club you want to be in
 
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