Instead it’s time for me to take the cash and run with it. I’m not sure what other stocks I should be watching, it seems that BIDU is doing so well for me that I might just stick with it.

Because of the lower volume of trading, there’s a greater spread on the stock so at any time I’ve seen nearly a $1.00 spread on the bid x ask of BIDU. Usually it’s only $.10-$.50, but there are other times.

I covered BIDU at $308.47. I could have had a better exit point, but took something good and figured that something is better than nothing.

BIDU = 600 shares x ($318.71 - $308.47= $10.24) = $6,144
$6,144 minus $12.00 (trading fees) = $6,132

So I shorted 600 shares of BIDU at the open and by the time I wrote this I’m already in the green, along with moving my stop to a position where I’ll be profitable.

Short 600 BIDU @ $318.71

Whether this will be a day where I make a killing or not is still yet to be determined. I might just make multiple round trips if necessary.

Taking a couple dollars at a time isn’t so bad.

AAPL dropped alright today, but I don’t usually watch AAPL enough to judge good movements on it. I’ll check some previous chart histories and try to get an accurate feel for it.

FRE and FNM both had great days, and as a percentage, they would have been a great play. But I’m not risking a high percentage play, instead I’ll take the safe and slow way to making money. Besides, the NASD has much more fun stocks than NYSE.

Well, tomorrow I’m not sure what to expect, but I gotta make some money so you know that I’ll be watching the market. And when I trade, I’ll try posting it near immediately so that you know when I act and can look forward to agreeing with my decision or just make fun of me.

When the DJI is up nearly 200 pts and the NASD goes up over 30, but I’m not able to define any clear cut positive moving stocks, it means that I can determine anything AND that the stocks aren’t clearly going higher.

It looks like the next down day will be a great time to catch profits though. I wanted to short 200-400 shares of BIDU at the close, but don’t want to get caught in a Bernanke tornado of craziness, in case there is one. It doesn’t take much to lose a week’s worth of work making money in less than a few hours. I’ve done it. I’ve seen many greater traders than me do it too.

I do miss watching Boogster buy 20 DJI contracts. I know that he’s gotten into safe trading, and it seems to be working for him.

As for this week, I wound up trading on three of the days and made enough profits to make it look like I might almost know what I’m doing. Don’t let me fool you though, as the saying goes “its easier to make money with money” - or something like that.

Have a happy weekend people, I’m going to McDonald’s and getting a happy meal.

So I went crazy and shorted 400 shares of BIDU. Then my stop got hit and I made a little profit on it. It wouldn’t look as good if I had kept to trading just 100 or 200 shares.

BIDU = 400 shares x ($318.79 - $316.95= $1.84) = $736
$736 minus $8.00 (trading fees) = $728

Why not short more? Well, I’m using leverage right now, I don’t actually have $120,000 in trading money in my account. I have a significant amount, but not 6-digits much.

Short 400 BIDU @ $318.79

Watch for the cash out, it’s going to happen. I have no idea where the bottom is and don’t yet know where I will be put my profit taking, but my stop is a little less than entry so the worst case scenario is I make a small profit.

Let me know if you think that I’m being too focused on trading BIDU at this point.

Here’s what happened.. I saw the market wasn’t going to get legs upward today, so I took a chance that BIDU was riding too high and took the entry when I could.

After the stock came up from it’s lows I took the chance to take the profit before what I thought would become a loss.

Easy as that.

BIDU = 200 shares x ($311.98 - $309.87= $2.11) = $422
$422 minus $4.00 (trading fees) = $418

As of the time I shorted and started writing, the stock dropped enough for me to alter my stops lower so that I still have a profit even if my stop is hit.

Short 200 BIDU @ $311.98

I actually wanted to short at $312, but sometimes my stock trading platform does what it wants instead of what I ask. I think that it’s OK because it never goes to my disadvantage. But it’s not as equal, which is something I would rather have.

For now, the answer to me is that there isn’t anything too hard about making profit on daytrading, but I’m sure that I’ll eat my words in a while.

The drop in BIDU was pretty expected, and I think that I could have made more profit on GOOG for a drop, but I wasn’t sure that GOOG was going to drop like BIDU did. Maybe I should have split and had shorts on BIDU and GOOG, just in case. But for now, I’ll take this profit and add it to the previous profits and consider myself lucky.

BIDU = 200 shares x ($313.00 - $306.78= $6.22) = $1,244
$1,244 minus $4.00 (trading fees) = $1,240

Since I decided that I would throw some weight into this trade, I shorted 200 shares instead of 100. I set a stop just in case the stock reversed on me, but that didn’t happen (yet). So I adjusted my stop so that I would still end with profit.

Short 200 BIDU @ $313.00

I’m not sure how long I’ll hold this position. Not overnight, but might be through the day.