CORRECTION: Seminar 10! Scheduled April 26th, 2009!
Newsletter sent to IU Subscribers
Dear Traders:
Good afternoon to all. I figured it’d be best to do a newsletter today after a few nice trade’s in chat and a weather report saying we’ve got 82-85 weather for Saturday and Sunday the last thing I want to do is sit inside on my PC during the day writing a newsletter!
Last night in chat we had a great discussion on feedback regarding the site, alerts, entry and exit spots and much more. My plan for this weekend’s newsletter was two-fold:
1. What questions do you have for the seminar this week;
2. We are looking for feedback, suggestions on the website since we launched 3 months ago since we are consistently looking to improve and aid in creating a better trader.
Judging from the past three seminars, it seems that most members are up to speed. This is mostly based on the volume of questions we received in e-mails (ie: not many). BUT last night, as I suspected, people still have some great questions and just haven’t replied! So this week comes a little incentive…
Seminar Topics and $150 Bucks!
Sunday we will be discussing a current incorrect assumption that if traders have a small account they can make more money trading .30 to .50 cent stocks. We’ll tell you what you SHOULD be trading, and why you SHOULDN’T turn these momentum plays into investments and bury your account in sub-dollar stocks!
Entry and Exit Points has become a popular topic which some traders are having trouble with – essentially being trigger shy. They see the trade but are afraid to pull the trigger on an entry or exit. Some mentioned that at times they are afraid to chase but when they don’t, they miss a huge run; or there is the danger of taking profits too many times, thereby turning a large gain into a no gain or a loss. (Believe me, taking profits at times can be the hardest part! No one wants to miss out on profits but at the same time, no one ever went broke taking a profit)
We’ll start with these two MAIN topics – but we need more! Please leave a question for Sunday’s seminar on this post! I expect those who commented last night to leave a few!
Let’s Spice Things Up This Week!
If you ARE a member of InvestorsUnderground
You can win… a $50 Amazon gift card
Plus… $100 credit toward next month’s subscription (or $100 refund credit to those quarterly subscribers)
If you are NOT a member of InvestorsUnderground
You can win… 1 FREE Month of InvestorsUnderground Live Stock Chatroom ($99 Value)
How To Win…
Give us the closing price of the INDU$ Friday 4PM. All Entries must be in by Thursday 11:59PM. Whomever is closest will win either both the Amazon card and the membership credit (if a member) or the free membership for a month (if non-member).
Where?
Leave your closing price in the comment section. If a member, please also leave your question for Sunday’s Seminar! This will be helpful so others can see the question you’ve asked which may stem some other ideas.
RSS Feed
April 22nd, 2009 at 5:26 pm
8025
April 22nd, 2009 at 6:02 pm
7797
Question.
I would be interested in seeing some failed trades. What thinking was involved when the trade was entered, when doubt set in about trade, and when the decision was made to exit the trade at a loss. Basically an overview of several different failed trades. I tend to hold a bit too long and get out with a bigger loss then I should have on my failed trades. Seeing others reasoning for exiting failed trades would be helpful I think. Thanks.
April 22nd, 2009 at 6:25 pm
Question: I have success in the early morning trading when things are very active, but when midday and beyond comes, I have failures. I need some advice and direction on this.
Regards,
David Knight.
April 22nd, 2009 at 6:35 pm
Question: Being that stock activity moves very fast in early hours, what process do you go through to determine whether a stock is worth investing in, or not ,with expediency? Time is of the essence in making a decision at these hours. I tend to miss opportunities trying to look at too many things before I invest.
regards,
David Knight.
April 22nd, 2009 at 7:01 pm
Question: I am curious if you know the answer to this question but when I watch the level 2s on a really cheap penny stock like lets say GTCB or even GNTA and there is a 100 share print. Who would be buying or selling 100 shares for a total of $35? The commission cost should make something like that not worth doing…so what is going on there?
April 22nd, 2009 at 7:08 pm
Question: As someone under the PDT rule, how patient should you be with a stock that doesn’t seem to be going you’re way? I understand about setting stops and all but if you did some TA and think that when you longed a stock it will go higher but it seems many trades I make I buy at the high for that time period (after some momo). Most of the time I am right and I end up making the profit I was looking for but many times I could have waited a few more minutes to long and would have significant more profit. In a nut shell my question is what is the best way to determine an entry point on a momo?
April 22nd, 2009 at 7:18 pm
7534 closing price for INDU$ on friday.
April 22nd, 2009 at 7:33 pm
8199
April 22nd, 2009 at 7:56 pm
INDU$ close at 8060 on Friday.
I would like to get to know about Adam (tort)’s automatic trading system.
Underground chat handle: Ryan
April 22nd, 2009 at 9:01 pm
7660
April 22nd, 2009 at 9:21 pm
7957
April 22nd, 2009 at 10:06 pm
7500.00
April 22nd, 2009 at 10:53 pm
Guess for INDU$ closes at 7899
April 23rd, 2009 at 12:25 am
8200
April 23rd, 2009 at 12:35 am
INDU$ Friday = 8043
April 23rd, 2009 at 1:22 am
Dogday,
I had your same problem about doing well in the AM (hitting my personal quota) and losing my profits mid to end of the day. The way I stopped this is by only entering in PERFECT setups with small positions and tight stops to protect my gains.
INDU$ = 8000
April 23rd, 2009 at 1:39 am
INDU$ at close thursday…7870
April 23rd, 2009 at 8:17 am
Guessing INDU$ @ 7549
April 23rd, 2009 at 8:36 am
7869
April 23rd, 2009 at 8:39 am
8437
April 23rd, 2009 at 8:39 am
7907
April 23rd, 2009 at 8:44 am
8127
April 23rd, 2009 at 8:52 am
7760
April 23rd, 2009 at 11:00 am
7600
April 23rd, 2009 at 11:33 am
7777
April 23rd, 2009 at 11:33 am
Looking forward to it. Personally my entry/exits need help, looking forward to another great seminar.
Dow 7770
April 23rd, 2009 at 11:38 am
I think it would be helpful to have all of the stockfetcher scans posted so they could be copy and pasted over, and more insight into how Muddy tweaks these to get the best or the ones he is most interested in. Primarily the PRE scan.
April 23rd, 2009 at 11:40 am
7980
April 23rd, 2009 at 11:42 am
$DJIA 7685
April 23rd, 2009 at 11:42 am
I think it would be great if we could have “threaded” discussions on the dashboard. For instance, someone asks a questions and people reply to the thread. A lot of great discussions happen afterhours and some of us not able to be in chat to read them. This would solve this problem.
Brenda
DOW = 7753
April 23rd, 2009 at 11:43 am
bwadester – GREAT idea
April 23rd, 2009 at 12:30 pm
7840
Haven’t read transcripts of the last few seminars so I don’t have the right so submit Qs.
April 23rd, 2009 at 12:39 pm
Questions:
With tax time just passed – could you discuss a little how you are taxed as a full time trader and at what status? – Individual? Do you form a LLC or some other business form to save on taxes?
When do you think it’s time to move from part time trader to full time trader?
April 23rd, 2009 at 12:51 pm
@ TheKingHR – this is something you need to discuss with your accoutant, we had another question like this in another seminar but we aren’t going to go there. We hold them to create better traders and answer questions regarding that – not offer advice on accounting and finance
Will add your second question to the queue
April 23rd, 2009 at 4:03 pm
Err, no question from me. Need to catch up on seminars too =)
Dow eod Friday – 8002
April 23rd, 2009 at 4:12 pm
INDU on friday eod = 8001
based on a million hours of quants and charting from only the best in the west.
April 23rd, 2009 at 4:12 pm
Dow closing Friday at 7755.
April 23rd, 2009 at 4:29 pm
8247
April 23rd, 2009 at 4:41 pm
IL, my call is 8025
April 23rd, 2009 at 4:55 pm
7825
April 23rd, 2009 at 5:16 pm
volume declining, so not much move i guess..
$INDU 7906
April 23rd, 2009 at 5:38 pm
DJIA closes 8033
I would like a review also on tortsAdam’s set up or just the perfect set ups on longs, obviously shorts opposite
April 23rd, 2009 at 7:14 pm
7862
April 23rd, 2009 at 9:23 pm
8080
April 23rd, 2009 at 9:25 pm
$INDU close 7911
April 23rd, 2009 at 9:53 pm
7718.35
April 23rd, 2009 at 10:49 pm
7745
April 23rd, 2009 at 10:54 pm
8250
April 23rd, 2009 at 11:04 pm
INDU – 8067.18
April 23rd, 2009 at 11:19 pm
8110
April 23rd, 2009 at 11:20 pm
$INDU 7767
Would be nice to see some exit strategies from Muddy for the momo stocks, if he could give some real life examples and the reason behind it.
April 23rd, 2009 at 11:39 pm
More of a comment than a question….maybe there should be some talk about how even the best professional traders with good trading systems don’t have winning days every single day…even the best can have a string of losses or a bad day.
Also, I second whoever said there should be some talk of failed trades….trades that didn’t work out….the chat acts as a “filter” of sorts because usually people are only going to tend to mention their winning trades in chat….but losers are just as important to learn from as winners
April 23rd, 2009 at 11:45 pm
My Failed Trade: -.09 cents
[Thu Apr 23_12:09:09 EDT 2009] InvestorsLive reshorted HST
[Thu Apr 23_13:19:50 EDT 2009] InvestorsLive cut off HST
I traded HST 7 to 6.81 short, 7 to 7.09 short (loss), long 7.20 to 7.57 short 7.70/7.55 to 7.26 covered way early
April 24th, 2009 at 12:42 am
Dow 8099
April 24th, 2009 at 12:44 am
7837
April 24th, 2009 at 2:16 am
8023
In chat, sometimes someone would mention the Lion pump on a certain stock. I goto the thelion.com and which area of the website would you find the pumping?
April 24th, 2009 at 2:22 am
8017
April 24th, 2009 at 11:10 am
Probably irrelevant now since I e-mailed it rather than posting it here, but 7794!