If you have what you think are even modest successes, like going from losing money consistently to being breakeven, then share the story if you like in the comments section after any current post. Even those kinds of advancements for a beginning trader are crucial. And if you have had a profitable week or month, even under tough, choppy market conditions, then again, share the story if you like because those successes are actually more remarkable than many of you realize, especially for new options traders. Tell me your trading successes, whatever they are, and I will pass them along for everyone's benefit.
SUCCESS STORIES:
Dwight,
I started investools Jan 2008. I really started following you in March. When I decided to learn how to trade, I decided to set up a small account. I wanted to be conservative since I knew nothing about the market.
I thought you would interested in some numbers.
Jan-Feb - My account dropped 20% (pre-Dwight)
March-Today - My account has increased 62% from that point.
Thanks
Chic
June 20, 2008 9:39 PM
I started listening to Dwight 2 weeks ago and since that time here is what I have done.
25 wins
13 loses
10% overall gain after commisions in my account and a great trade on ANR Friday morning got filled at $10.30 and out at $14.45 in 2 hours.Correct me if I'm wrong but I think that qualifies for a Snoopy Dance.So thanks Dwight for the help and the extra effort in your page.
Garrett
June 28, 2008 2:03 PM
Dwight,
I got stopped out on one of my bear call spreads first thing this morning, then the stock price dropped back down. This made me mad enough to want to throw out all my stop loss rules (arghh*!@#!**). I said to myself, I'll just follow Dwight today WITHOUT MY RULES, and guess what: I made more than double REAL money on BNI with you (double the loss on my stopped out order). YOU helped me turn a losing day into a winning one, Dwight!
I realize that having made this money was just a quick fix, and following you does not make me a trader; only a copycat. But if I copy you enough times, I could learn to trade a bit more like you, with similar return rates (I hope sooner than later). In case you are bothered that you may be enabling the Mavericks and Gooses come lately, remember, THE TEACHER LEARNS MORE than his students, BY TEACHING the Mavericks and Gooses.
Ilona
Hey Dwight..
I love your insight and wisdom. Thank you for taking the time to go into your ideas and real life stuff.
I held my ultra shorts until this am and the market did what you said it would. I was out flat within 10 minutes on 7 positions and had the biggest day I have EVER had.. huge... THANKS for all you do for us.
Bill F
Dwight,
ReplyDeleteThe "other site" uses You Tube for video. I'll be on vacation this week, but I hope to check in at times.
Gary
Dwight,
ReplyDeleteHow does one measure the force of "news" versus technical analysis (at which I am not terribly adept). For example, technically speaking it seems that X is ready to drop, yet I read and see that steel is "coming into play". How would you assess the news vs. analysis on that or any other stock.
bostonbruno: Technical Analysis is the study of price action, which is the net result of all buying and selling. Since Big Institutions are the primary drivers of price action, and since they have the most vested interest in their investments, they will stop at nothing to accomplish all the research and analysis they think is necessary in order to make profitable decisions. Therefore, I give the greatest weight, by far, to Technical Analysis.
ReplyDeleteDwight,
ReplyDeleteThanks. I've been at this for a short time and have had limited success, but your systematic approach has given me hope.
Dwight,
ReplyDeleteHow do you feel about going long on PCU? It had high volume Friday and broke above the 20dma with next resis. around 117-118.
Jeremy: PCU is interesting, it's on my bullish watch for the week.
ReplyDeleteJeremy,
ReplyDeleteI like PCU also. I don't see it going as high as 117 or 118 though. I have a target of around 111-112.50.
Joe
Hi Dwight
ReplyDeleteIn your analysis do you use or place any reliance on the fibonacci retracements? I am still trying to learn these but when I am determining what I believe may be support or resistance it seems uncanny how many fibonacci's there are around these levels. Or do you think these are just coincidences?
Thanks for all your insight over the past week. Your analysis and thoughts have been very helpful.
Ed
I'm also thinking about GHL. How do you see this one?
ReplyDeleteJoe,
ReplyDeleteThanks, I guess 117 is wishful thinking. I'd be happy w/ 111-112. Maybe start to scale out at the point. Looking closer at GHL I'm not sure I like the low volume. Maybe a really tight stop just under 60? It's also a countertrend (short term) trade.
It looks like pcu has had lower lows and lower hi's. May not be a good call candidate.
ReplyDeleteAgu and tra might be setting up nice.
Jeremy,
ReplyDeleteGHL looks good too. It's volume was pretty much on average and if you look at the intradays, all the volume came from the buying at the end of the day. I could definitly see this going to at least 61-61.50 to 63.50. I'd set a stop at just under 59 because I could see the market drop for a bit tomorrow.
Joe
Ed: yes, I use Fibs as my backup horizontal support/resistance just like I use Moving Averages as my backup diagonal support/resistance. Fibs are a very valid technical tool because they are based on live price and not some derivative of price.
ReplyDeleteJeremy: GHL is like GS, it's a Broker (Regional) which is coming to life. Also, make sure you keep half an eye on FCX when your playing PCU, but PCU does look interesting to me.
I'm with SteveC regarding PCU.
ReplyDeleteI see a long descending channel and fail break. I'd like to see it close near or above Friday's shadow before going long.
Dwight, what do you see that makes pcu bullish? Is it the gap with volume or are seeing the last few days as an equal low? Or maybe $100 is a longer term support with a round number?
ReplyDeleteThanx
Krystal: nice job on the NOK put. By the way, it's ok to tell us about your trades, just tell us what it is. You're in a hybrid swing trade that I call "Walking the Ten" because you're trade is probably going to last as long as NOK stays below the 10dma, and the trade will probably be about 1-3 weeks in duration. If you're trend trading NOK then you could say that you're "Walking the Twenty" or "Walking the Thirty" or "Trend Trading." It doesn't matter what your option strategy is, just let us know what the strategy (and exit strategy) is when you tell us. So don't feel like you have to hold back because it's not my "Short Swing" trading for a choppy market.
ReplyDeleteSteve: PCU is Neutral to Bullish in a consolidation channel. It's starting to put pressure on the top side of the channel, and it's starting to pick up volume. So it's worth watching. Of course, a lot of stuff is worth watching each day. I don't play everything I watch, but I watch.
Dwight, due to my schedule I have only been able to watch your coaching a few times. It is awesome that you trade such short term swings with such success. I am 23yrs old and unfortunately have lost ~60of my account over the past year. While it is tempting to throw in the towel, I have 'invested' too much time and money to give up. Thanks to you my trades have turned around. Your comments on your page are great my only wish would be that there was more and more detail.
ReplyDeleteIn the most sincere way.
Thank you for all you do.
-Kevin
Bo...It looks like you made the turn around that I am looking for. I'd love to talk to you about the changes you've made. If you don't mind please email me at Kevin@kbcustomrods.com.
ReplyDeleteHi again Dwight,
ReplyDeleteI was also at the point of throwing in the towel. But your WEB site looks interesting. So I have been following your trades. I actually made a couple $100 yesterday but should have gotten in to CNX today like you did but was too slow on the draw. My question is what leading indicators do you use to persuade you to trade like CNX and SPY and DIA. Thanks Dwight I really appreciate you sharing the way you are. I am also on VC each day. I hope to make TRADING my daily income.
Dwight-Cinco De Mayo day showed an interesting price pattern between 3 and 4PM on the SPY. There were 5 spikes where "someone" paid the 90.85 price when it was trading at or near 90.30. This can be seen on 1m, 5m, 15m charts for the day. It looks very suspicious.
ReplyDelete