Would you be interested in peering over the shoulder of a profitable trader? one who has taken a $100,000 account and in less than three months grown it to $1.6 million? would you like to see and analyze every trade they made?
Just head over to Zack’s $100,000 Challenge and take a look at the current top contestant’s trades. He is hyper active… a scalper really. Whatever he’s doing is working! “Java J” is trouncing the rest with a current $1 million lead on second place!
You may not want to emulate his style (once you find it among the confetti that is his blotter) but you’ll definitely come away with atleast one or two insights. I’ve only glanced at a few of Java J’s trades. From those I see he only trades very volatile and active stocks: ACAD, BVSN, SPDE, and the like. From the sheer number of trades and their close proximity in time, he must be using a 1 minute or tick charts or maybe he’s not using charts at all but ‘reading the tape’ old school. The gains he has made are even more impressive when you notice that he pays on average $50 roundtrip! His must be a very high probability setup to achieve results above the transaction cost.
Unlike other trading contests, the prize in this one is not won by the highest equity but a combination of performance and blogging. So be sure to check out the top performers blog.
You might also be interested in this series posts by the Chairman, analyzing the trades of Charles Kirk, of The Kirk Report.
Yet another way to peer over the shoulder of a successful trader is to check out Tony Oz’s The Stock Trader: How I Make A Living Trading Stocks:
After having received an exciting challenge from the founders of the International Online Trading Expo, Tim Bourquin and Jim Sugarman, Tony planned to hold nothing back, providing all the decisive details of each trade, including the thoughts, strategies, surprises, and problems, and how he dealt with the momentby- moment challenges the Market presented him.
Such a book had never been attempted before. No trader has ever put their reputation on the line with this kind of honesty. It’s easy to search through past trades and present the best ones. But no trader has come forth in advance with the candor to say, “For the next four weeks, I will reveal my every move, for better or worse, entries and exits, winners and losers, with all my profits and losses.”
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