The code card comes from IB. Sorry about that. That will be coming in the mail. It's unmarked and it's the first time I've used such a system. I can see where if you use more than one computer to do your trading it would be a great way to POSITIVELY i.d. you at login. And that there's (really) only one of you logged on to IB and trading at a time on that one account. My card was late in arriving and they were ready to cut me off until I called them back and mentioned that they should have tried sending it to my mailing address instead of my physical address. Then they apologized and overnighted me a card the next day. It's unmarked, so I just leave it next to my computer as I'm the only one that uses this one. Anyway, so I've been trading away.....though I haven't done much so far this week as everything's kind of....sideways.
Stewart Thomson of
www.gracelandupdates.com has given me a new way to trade and I wouldn't bat an eye other than to say that I saw almost immediate results for the better in the few trades that I make. I find myself not really looking too much at average share prices instead of groups of shares bought at xxx price and then patiently set your sell points on those same group of shares and trade when your price hits. For instance, the highly volatile and fast moving SKF. I started buying shares at the 52 week low and have watched that fall to a new low but have been buying all the way down nonetheless. And I don't PLOP down all my $$ and buy my complete position all at once either like I have done in the past, thanks to him. That's a BIG NO-NO in the stock trading/buying world. I have under 100 shares and I only buy in groups of 5 maybe 10 shares IF it's low enough. My last buy was 10 shares at $59. Looking at my IB Web Trader that says my average share price for my SKF holding is at $78 a share. BUT....I can trade those shares purchased at $59 and sell those when the price hits $70 AND MAKE A TIDY 18.6% PROFIT on that one trade. My next SELL point will be at $80 and another 10 will get sold and I'll keep do this until either I'm sold out of SKF with a NICE 20something% profit and the highest price I need is $110 to $120 a share. Something that's entirely possible with this stock.
Anyway, buying when something is going down and then selling into strength when it's going up is something that I wasn't doing too much before. And apparently not many others do that either. But now when I dabble with my GoldMoney holding I made money there by converting silver into gold when gold was priced low and when I buy and sell precious metal shares in my brokerage account and setup my trades in a like manner the results in both places are easy to see. In fact, I've bought a journal where I can write down EVERY trade and the details about dates of buying, selling, price paid, price sold, profit all of that. Instead of looking at racking up that one big hit, I've managed several small little victories such as the 21.6% 3 day SKF trade, the 11.5% in 4 days AUY trade and the 19.5% in 4 days SRS trade and that's in the last week since 4/21. YOU CAN'T ARGUE WITH SUCCESS and heck....it's kind of fun too!!!!
28th April 2009, 16:20
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