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Strategies & Market Trends
Another newbie trader

An SI Board Since February 2002

Posts	SubjectMarks	Bans	Symbol
21	3	0	QQQ

Emcee: Mike McFarland	Type: Unmoderated

Introduction Market Data Compact

Another newbie trader, trolling for any and all ideas!

Last week I managed to lose something on the order of $5,000 in the market as a result of, well, being an idiot. Oh, I'd like to say it was just flabby thinking and bad timing, or that I was just too emotional about trades that were only starting to go bad--maybe I could even blame the loss on my laundry detergent, ha! I was going to put together a nice little story, but here it is...in a nutshell:

Early in the week I moved about 100k into a handful of biotechs and posted a portfolio on my "Thread of Life", the portfolio had a lot of overlap with the new shares. I confidently stated that I was setting a really liberal stop loss, and had no worries. Naturally the puchases were immediately a buck in the red...

Over the next couple days I had a couple of conversations which really rattled me--it seems that there are are still some people out there
who have savings in the market. Incredible. Anyway, while I was under the influcence of a double mocha, and I had the brilliant idea that
rather than hold some positions for weeks to months, I would be a real hotshot and daytrade a few thousand shares of Elan, ELN.

Ha! I opened a level II screen for Elan, and sat, frozen. A deer in the headlights. I had no idea what to do.

And the rest his history. I probably should have made a couple of grand last week, but instead paid a heavy toll on the traders highway.

Maybe I needed a good smack to wake me up.
And with that, I am starting this new thread.

.............
"The thread of life"
My old weblog; mostly useless rambling on my part.
But a few of the biotech enthusiasts stopped by
from time to time, and that was much appreciated.
Subject 34413

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
21	Nevermind. I identified several trading vehicles, wcom, q, maybe my glw...sunw	Mike McFarland	-	2/20/2002
20	I knew it! Miss Cleo had to be a stock junkie!!<g> always have fun that&#	lee0	-	2/18/2002
19	hey, dude, when you called Miss Cleo over at the Psychics Hotline, actually I am	quasi-geezer	-	2/17/2002
18	dude are you psychic?!? yup down at the KaDeWe eating oysters and drinking. i t	lee0	-	2/17/2002
17	what did you have ??? oysters ???	quasi-geezer	-	2/16/2002
16	yup. sometimes. <g> but it was a great meal!	lee0	-	2/16/2002
15	dude, do you have bad luck or bad skills, hee hee hee ...	quasi-geezer	-	2/15/2002
14	ok so you did not lose the money day trading. but lost the money because you whe	lee0	-	2/15/2002
13	Thank you very much, and you can be sure that I am lurking on those active threa	Mike McFarland	-	2/14/2002
12	Well it sure sounds like you're flying by the seat of your pants. You'r	StockOperator	-	2/14/2002
11	Not TA! Seat of the pants madness... Last week I figured I'd put something	Mike McFarland	-	2/14/2002
10	Mike, Appreciate your honesty. If you don't mind sharing I'm curious	StockOperator	-	2/14/2002
9	#subject-52424 Youre Welcome! Jane	Jane4IceCream	-	2/13/2002
8	Names for threads: I've been told that "Voyage of the dawn trader"	Mike McFarland	-	2/13/2002
7	Actually, the 5k was lost when I zapped a handful of positions that were in the	Mike McFarland	-	2/13/2002
6	>> Ha! I opened a level II screen for Elan, and sat, frozen. A deer in the	scaram(o)uche	-	2/13/2002
5	Why "sell them next week when the Chinese are home from vacation"? Are	Murray Grummitt	-	2/13/2002
4	my god man... did you ever "day trade" before? i mean if some guy nee	lee0	-	2/13/2002
3	dude, are you serious you lost 5K from your 100K account in Elan ???	quasi-geezer	-	2/13/2002
2	The master said... To be able under all circumstances to practice five things co	Mike McFarland	-	2/12/2002
1	Buy some gold mining stocks today and sell them next week when the Chinese are h	DrGrabow	-	2/12/2002

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