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MCRL Closed at 8.11 for a net profit of 41 cents per share. PLAB Closed at 11.17 for a net profit of... 1 cent per share. I wanted to take a profit on that one :) JCP Closed at 18.01 for a net profit of 98 cents per share. This one was a good one. The stock gaped down today. New...

Hi Mars, Yep, I picked some nice shorts yesterday. It looks like I am improving thanks to you guys!!! You are right, taking profits is not as easy as taking losses. But since I decided not to hold stocks more than 2 days, things are easier for me. For instance today I closed my MCRL...

Hi Mike, Your MACR set up looks like my MCRL one. I hope MCRL won't consolidate in the same way :) I am not 100% sure about my exit strategy. I scrolled a few charts and noticed that generally stocks consolidate after 3 days of move in the same direction. Since I always get in when the...

Hi all, Here are the news for today. SWK was down more than 2.5$. I was following the stock. I did not short it because it has not broken down the 23.63 support level. I did not consider the hurge volume spike... big mistake :) Therefore today I anticipated some breakouts when volume...

Today I closed my positions on LGND and MCRL taking small gains of 17 and 53 cents per share. LGND It closed at the high of the day so I suspect it will move up tomorrow. But I followed my new trading rules and sold it because I have it for more than 2 days and I chose not to hold stocks for...

Today's selection

I did my homework this week-end. I analysed my past trades and read Mike and Mars posts. I will do a few changes to my strategy. Stops Obviously my stops are too tight. I was stopped out today on SEPR, ESI and CNF. As of now I will use larger stops. I will set them to the low or high of the...

>> Hi Mars, I read your posts and appreciate your contribution to this thread. I am very interested in knowing more about the swing trading techniques you use. Please keep on posting here.

04/04 Today I cannot follow the market until the closing. ESI I am comfortable wih my current postions except ESI. I am short and it is moving back up although the overall market is moving down. I am thinkng about closing the position but I will leave it... just to see. It looks like the...

I understand now why position sizing is so important for you. If I understand correctly when you use large stops you lower your position to reduce your dollar risk. I use a fixe position size but I have a maximum lost per trade (now :-)) which is 60$ for 100 shares. I will follow up my...

You are right on the risk/reward ratio... I think on average I probably lost more that I won on these kind of trades. I prefer the set up on CNF and ESI. What is your opinion about them?

Hi Trend Fader, I still hold it. I agree it is quite risky but I like this kind of set up. It moved up on higher volume , I expect it to gap up tomorrow... time will tell. What kind of patterns do you trade? Do you look for stock consolidating? DT1

Hi Bruce, I agree with that. I expect my stocks to gap in the right direction the next day. It happened a few times. I made big money on these times but I lost a big part of this money not controling my risk on loosy position. I definitely have to focus more on my risk on each trade. As...

Hi Iceman, J'aime Paris aussi :) I am waiting for your comments. DT1

04/03 trades SEPR The stock gaped up. I did not take my profit and now it is a loss. In the future when a stock will gap I will move my protective stop to lock profits. I still hold the stock but I am now down -19.99. CERN Yesterday I closed my short position and today the stock gaped...

Hi Trend Dader, Thanks for your reply. You are right, position sizing is important. Since I am not overconfident about my system I will take small risks in the first place. But soon I will increase my position size. You are right the exit plan is very important. I use to put large...

Today I closed a position on TSO that I have been holding since friday making a small profit of 43$ on 100 shares. New positions today +100 ICN @ 10.03 STOP 8.99 -100 CERN @ 30.19 STOP 31.02 -100 ESRX @ 54.19 STOP 54.38

Hi all, Yet another journal :) I live in Paris and trade Nasdaq and NYSE stocks. My initial plan was to make a living day trading Nasdaq stocks full time but after a while I realize I'd better look for a job :). Now that I have a job I still trade afterwork. I do swing trades only...