It was a trying day today and after dodging so many financial bullets, I looked at my H2 2011 results and felt really disappointed that I didn't do as well as I should have. I missed out on so many opportunities. I'm still well on my way to recovering the paper losses on my SBA, but dealing with a second Regulation T probation really set me back a few days and kind of took the wind out of my sail.
Over the weekend, I figured out a way that I can theoretically trade everyday of the week and at the same time bypass Regulation T.
x = cash in account
Take a maximum position of x divided by 3 per day and sell on the same day.
With the T+3 rule, positions sold on Day 1 will settle on Day 4, enabling me to trade everyday on cash if I so desire.
Plus, risk is always x/3 at any given time.
All weekend, I was all:
1, 2, 3, 4
Hit the market and raise our score…
5, 6, 7, 8
Decapitating the bears will feel so great!
Then, the market opens and it's much more difficult than I imagined. Today, I had to battle retracements on AA and JRCC and took an early DYN loss. It wasn't ideal, but I made it through the day banking two profitable positions and starting a new one not knowing for sure whether IO will experience smooth sailing.
But darn it, I want to be part of the 1% of traders making 99% of the profits! I want more Hermes - and maybe even some Harry Winston... so I'm going to research more and brush up on some more market commentary tonight even though I can really use a two hour massage right now...
-0.44% SBA
-0.43% Roth IRA
+0.71% DJIA
+0.34% Nasdaq
+0.63% S&P
-0.30% FTSE
-0.55% Eurofirst
+1.72% WTI Crude
+2.47% Brent Crude
-1.03% VIX
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