I am still at it with the trading of the stocks and bonds thingies. Believe it or not I have not wiped out all of our equity. The government will do that for us. Harr harr. But seriously folks, I'll be here all decade. On the advice of Rob Skaggs I switched my IRA to interactiverbrokers.com, which has turned out to be great. They have fast execution and the trades are closer to $1 each than the $7 I was paying at Scottrade. It is a one screen interface rather than a three-step process, which lets you get in/out more quickly. Since my last post a couple months ago:
lost a fair bit of profit by holding a 3x ETF with no stop orders in. Went away from computer for a day, came back...SOL.
Have made almost of that back since then with more diligence on the preset orders.
With IB I am less concerned about setting a stop loss that is equivalent to my purchase price or just under, it is $2 instead of $14 each time. I can also keep the screen up and move the stop every few minutes if it goes black in order to guarantee (virtually) a profit on a higher percentage of trades. In other words, if you are buying something for short term, you can set a stop order very close to your purchase price, if it hits that, small loss, otherwise an observed gain till you stop out or decide to cash in.
Making about 6 roundtrip trades per week at the moment.
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