Thursday, January 03, 2008

Intraday Play - Why more $$$ now?

Someone asked me how come I have more success in Intraday plays recently. My answer is simple. I change my mindset and perspective.

Previously, I would think that making 31.1% or $19 per contract is a waste of time (refer to Intraday Play - QCOM). When I have made $19 I would be begging for more (Greedy Me!). Many a times, the market would give me the opportunity to take my profit. But since I was greedy, the market would just reverse and punish me with a loss.

Now, I would just accept smaller profits percentages as long as the profit target is within reach. To compensate for smaller profit percentage , I would just increase the number of contract size. For example, in the QCOM play below, 10 contracts would give me $190 (capital $610). 20 contracts would give me $380 (capital $1220). And so on. So how many contracts I played? Hmmm....... ;)

- PersianCat04 (Millionaire-in-progress)

1 comment:

Anonymous said...

hi
actually 31% profit for intraday is alot.
I like your blog :)

cheers, Gary TFAL