Reduced Position Watch Auto-Update Interval

Posted by Satuki On January - 28 - 2010

As some of you might have noticed it, I have reduced the auto-update interval of my portfolio from 180 seconds to 60 seconds, which means that you will be able to see all my trades within 1 minute at most.

Even if it is set at 1 minute, you should NOT follow my trades. The proper usage of my portfolio is to use it as a bench mark against your own performance or take notes on my entries and exits. Then work your butt off to incorporate it into your own trading strategy.

To be honest, sending day trading alerts is never a solution even in real time because of the following.

In most cases when a position moves, it moves at the speed of light. You just do not have time to react.
Even if I tell you what stocks I am watching, I still can not tell you where to buy/short ahead of the time because a stock could show weakness now and strength 5 minutes later if some favorite elements kick in.
Now you understand how silly it is to subscribe to a paid “service” for day trading alerts.

Speaking of real time, some people suggested using a chat room. I looked into this. It is perhaps not a feasible solution for me. Here is why.

Day trading requires very high concentration power because it allows little room to make mistakes. I do not know how others in a chat room manage it. My performance would suffer if I need to constantly interact with other people. If my performance suffers, everything else I am doing would be meaningless. That is why I will alawys be a solo trader during the market hours.
If I can not interact with others, a chat room becomes like Twitter.
A chat room is fine if it has only a few traders. It will be chaotic if it grows to a few hundred or more. I can guarantee you that we would have that many people if I set up a chat room.
Messages published in a chat room are not persistent. I want people to be able to see useful messages even after a few days, weeks or even months.
Learning a systematic approach is way more important than receiving a few real time alerts.

Go to my portfolio. You will see the “Auto Update Window” and click it. A window similar to the one below will pop out.

Safe trading.

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traderJoe
Dear Mom,
May I ask why you stopped showing your position size (number of shares you buy or sell)?
The biggest appeal of your web site was honesty and transparency. Unfortunately, it is gone now since it is easy to manipulate after the trade is done (say double or triple the size of winning trades). Anyway, your blog is still one of the best. Keep up your great job and good luck!
Joe

http://www.momdaytrader.com/blog/ Satuki (Trader Mom)
That is a valid concern. Here are a few questions to ask though.
Is there any incentives for me to do this?
Am I selling any products?
Am I trying to get funded?
I am not selling anything and I will never manage other peoples money. I can not even make the best use of my own money. I still have some money left in a CD :(.
You perhaps know there is a lot of manipulation going on in the stock market. With so many watching my portfolio, I am kind of worried. I have to protect my trades as my position size goes up. I will stop posting my trades in real time one day when i do hit a certain size. By then, I will only post all my trades at the end of day.
Let’s take a look at the 2 shorts I took in TRA today. It is not too hard to firgue out that I had 400 shares in each trade. The loser had the excat same quantity as the winner.
Maybe I should start a paid subscription service :). With my consistency and the fact I do not trade penny stocks(scalability), I think $299 per month would be minimum. For $299 per month, people could see my position size. If there are more than 50 subscribers, I will implement it.
That is like only 3600 a year, which is way less than how much you would pay at a community college. So it is dirt cheap.
Any taker?

traderJoe
Dear Mom,
May I ask why you stopped showing your position size (number of shares you buy or sell)?
The biggest appeal of your web site was honesty and transparency. Unfortunately, it is gone now since it is easy to manipulate after the trade is done (say double or triple the size of winning trades). Anyway, your blog is still one of the best. Keep up your great job and good luck!
Joe

http://www.momdaytrader.com Satuki
That is a valid concern. Here are a few questions to ask though.
Is there any incentives for me to do this?
Am I selling any products?
Am I trying to get funded?
I am not selling anything and I will never manage other peoples money. I can not even make the best use of my own money. I still have some money left in a CD :(.
You perhaps know there is a lot of manipulation going on in the stock market. With so many watching my portfolio, I am kind of worried. I have to protect my trades as my position size goes up. I will stop posting my trades in real time one day when i do hit a certain size. By then, I will only post all my trades at the end of day.
Let’s take a look at the 2 shorts I took in TRA today. It is not too hard to firgue out that I had 400 shares in each trade. The loser had the excat same quantity as the winner.
Maybe I should start a paid subscription service :). With my consistency and the fact I do not trade penny stocks(scalability), I think $299 per month would be minimum. For $299 per month, people could see my position size. If there are more than 50 subscribers, I will implement it.
That is like only 3600 a year, which is way less than how much you would pay at a community college. So it is dirt cheap.
Any taker?

Daniel
Hi Satuki,
I was sided with the chat room option, and I totally agree that it might suffer your performance while interact with others. Maybe this is why most of the chat rooms are handled with voice, and only the analyst is allowed to speak.
I still think that could be a solution in the middle for site like yours. Think of a priority of credit based mechanism, which will emphasize “quality” alerts, a Whiteboard on the side for sticking persistent messages, but anyway I really understand you :)
I am waiting for the new forum
Good Luck
Daniel

http://www.momdaytrader.com/blog/ Satuki (Trader Mom)
Daniel, thanks for your feedback,

Daniel
Hi Satuki,
I was sided with the chat room option, and I totally agree that it might suffer your performance while interact with others. Maybe this is why most of the chat rooms are handled with voice, and only the analyst is allowed to speak.
I still think that could be a solution in the middle for site like yours. Think of a priority of credit based mechanism, which will emphasize “quality” alerts, a Whiteboard on the side for sticking persistent messages, but anyway I really understand you :)
I am waiting for the new forum
Good Luck
Daniel

http://www.momdaytrader.com Satuki
Daniel, thanks for your feedback,

Joe Ruder
Just a for what its worth…
I am part of a chat room that actually does seem to work out well. The sense of community certainly helps. However, it is not marketed as a “we call the stocks, you follow along” it’s style is to educate on HOW to trade stocks no just “spoon feed the masses”
Just a thought for your consideration. Of course your trading need have to take top priority.
Thanks for the site and all the info.
–Joe

http://www.momdaytrader.com/blog/ Satuki (Trader Mom)
Joe, do you have to pay for it? I have nothing against a paid service as long as people can benefit from it.
In fact, I am in favor of quality educational products instead of “alerts”. A few firms that sell educational products(including chat room services) approached me and wanted me to recommend their products to my readers. I refused because have never used their products.

Joe Ruder
Just a for what its worth…
I am part of a chat room that actually does seem to work out well. The sense of community certainly helps. However, it is not marketed as a “we call the stocks, you follow along” it’s style is to educate on HOW to trade stocks no just “spoon feed the masses”
Just a thought for your consideration. Of course your trading need have to take top priority.
Thanks for the site and all the info.
–Joe

http://www.momdaytrader.com Satuki
Joe, do you have to pay for it? I have nothing against a paid service as long as people can benefit from it.
In fact, I am in favor of quality educational products instead of “alerts”. A few firms that sell educational products(including chat room services) approached me and wanted me to recommend their products to my readers. I refused because have never used their products.

geedeal
Hi satuki
why don you just make a paid service like one http://www.intelligenttrendsllc.com/index.php?/auto-trading-stock-picks.html
wich they auto trade you entry/exit in real time?

http://www.momdaytrader.com/blog/ Satuki (Trader Mom)
geedeal, I think it takes a lot of resources to set up something like that.

geedeal
yes it does but you already proof you self how smart are you yes you can do it!

geedeal
Hi satuki
why don you just make a paid service like one http://www.intelligenttrendsllc.com/index.php?/auto-trading-stock-picks.html
wich they auto trade you entry/exit in real time?

http://www.momdaytrader.com Satuki
geedeal, I think it takes a lot of resources to set up something like that.

geedeal
yes it does but you already proof you self how smart are you yes you can do it!

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