Throwing in the towel and going live

Well, I've decided to close down the day trading subscription. Between waffling on the moderators part with a variety of formats and changes to try to appease the large numbers in the room it has been watered down to a point of no return. I will finish out the week as there are a few trades that we are holding that I do not think will work out, but I will not treat them as total losses until expiration on Friday.

Throwing in the towel, figuratively speaking.

Next up is a new beginning with an old plan.

I have decided, after a long bout of testing other services and having them fall flat on their promises, that I can do much better. In that vein I will be starting my own service in the next short while to provide email alert based trades with website reference backup.

This will be nothing fancy, just straight up trades with clean and clear entry, targets and stops and perhaps two or three ways to play a trade depending on the setup.

I have tried a number of self made plans and have seen some great potentials and had a few go flat over the past while. So rather than get into forecasts and future gains and what not, I decided to grab five, more or less random stocks out of about 50 that I had selected over a year ago to run trades on. With all the data that I have it does not take too much to figure out the profit and loss with a sliding account sizing scale.

Stock trades logged thus far for ABB, ABX, AEO, CAH and GDX. I started just going alphabetical then bumped up a bit, the point being I did not select these for any performance reasons. Out of the total of about 45 trades total over the last 15 months, depending upon using an aggressive or more conservative approach to the strategy, the returns are very nice... no not spectacular, or explosive ... nice and regular.

A cash only account gain was between 70% and 100% depending upon the aggressiveness chosen and between 210% and 290% using 1/3rd the cash in a 3 times margin account to end up with the same buying power.

Now that is only with 5 stocks and thus only having 5 concurrent trades but using full capital in those five trades... not necessarily the absolute best plan. I'll setup a better gauge later and add in the rest of the trades into the mix.

Anyhow... off to bed now and I will post more details later.

Jeff.