Stock du Jour -- MGRX
Kristjan Kullamägi Stream Notes (subs only), Trading with Constraints, Blind Trading
MGRX 0.00%↑ did 114,000 trades and ended the day with a $26 MM market cap … I shorted this first thing and added to the loser during regular trading hours. It was an expensive borrow so I knew it was going to be good. I made a fortune in this one.
I paid 7.8 cents per share to borrow MGRX today. $3,900 upfront.
Interesting Links:
Kristjan Kullamägi Speaks the Truth about Casinos
Can Limited Time for Trading Be – A Good Thing?
My situation forced me to think hard about systematizing my trading. I wasn’t auto-trading at that time but I may as well have been: I had to create a plan to trade a fast trading system in a short amount of time.
That meant removing distractions: using Trade-Ideas to alert me for the EXACT situations I wanted to trade and nothing else, having a predetermined game plan, and confining myself to the types of strategies that were realistically possible for me to trade.
Dave explains how the constraints of having a day job unexpectedly helped him become a profitable trader. Great post.
IB Strongly Recommends Against This Kind of Blind Trading
I don’t subscribe to OTC data so I have delayed quotes only as I cover my 77,782 shares of CO (now CORBF). Big payday, but a long time coming and loads of interest paid, and it’s gonna take me days or weeks still to get out… give me another nine months to exit it all.