On Thursday just before the close (the red ellipse) I decided to give going short a try just to see how it is to hold an overnight short position and how the Fidelity website handles it. Continued putting on a short position on Friday morning up to 4k shares because it seemed like the liquidity on the buy side that I could see on the book was weak and fragile,...
Made another $5k or so for $20k between Friday and today, using a basic tape reading market making strategy. Highly recommended for this stock. I'm flat again because I don't see any way to tell which way the stock is going from the $16.50 level. (But then again I'm just a beginner, maybe there is a way using TA that I don't know).
Got my account fully un-restricted today, and had a fantastic trading day in which I started flat, made about $15k, and then ended flat. I'm not sure what to expect on Monday but I have a feeling that the longs are overextended so there might be a substantial price drop. However I'm not going to prejudge that and I'll wait to see where the stock opens before I...
As you can maybe see, the recent price action has actually been matching my TA lines pretty well (and it's not me, because my account is still restricted from buying, I suppose until I unwind my long margin position and rewind it back through my cash account, if that makes sense). I adjusted my upward diagonal line to match the price action, but please note that...
Some of the recent price action has been directly caused by my working into a position from my retail brokerage account (working my cost basis down), but one thing I'd point out is that since I started trading the liquidity has thickened up from something like 5-10 price increments wide with 100 - 200 shares on the best bid and offer to a point where it's usually...
My previous idea got flagged for advertising because I directly linked some south park stuff, so I'm reposting it with the BTCUSD chart also added. Have a very excellent Tuesday everyone :)
Ended up taking a small loss today (on the order of $100 or so I think), but the more important thing is whether I managed to avoid the pattern day trader designation. Fingers crossed, and I'll probably find out one way or the other from Fidelity next week.
Made a few bucks (literally like $10-$15 or something) market making this morning, but I'm avoiding using up any more cash buying power until my pattern day trader warning has gone away. Who knew market making could be so complicated, amirite?
The good news is that I made money on every single individual trade, so my PNL was strictly positive at all times...
I've been making a market in VIRT (unhedged, long) over the past couple of days.
Current (unsettled) position: 31,800 shares
Current cost basis: $16.59
Dollar value: $525,600
Making even more money this morning, but got a small margin call that I just handled and also got a pattern day trader warning. Is this a new record for the shortest amount of time between getting margin enabled and getting both of those at once?
I need to get into one of my other brokerage accounts that I don't have access to right at the moment, but I think this is more correct than my meme lines 2 idea, based on when I initially did that first trade on VIRT stock
It's going to go sideways for a while, then eventually up, slowly or quickly, I dunno
I own literally 0.575% of this shit already. If you're getting in, get in now or later or whenever
