Search results

+ $255 Still holding my amazingly profitable (+$3200) FWLT Nov calls with a target profit of $35,000. I would like to kindly ask Nordik and the millionaire to please put all their upside energy there for me :p (I need it after all the mistakes I made this first trading year.) Holding HW...

I believe this is a little-known gem that should double in value within a year. Perfect for long term investors and IRA accounts. I came across China Direct (CDS) in the spring when they first reported record 4th quarter 2007 earnings, then raised guidance 20%. At that point I began swing...

+ $143 Today I mainly studied the behavior of stocks trading near 52-week highs. I had reviewed charts on several of these (as long as they weren't biotech, they were fair game for shorting IMHO). I had a hot list before the open of what I considered to be the highest probability shorts -...

+ 143 I spent the day studying the behavior of stocks trading near 52-week highs. Very educational day, but I only did one actual trade, ICE, and left money all over the table :(

Jon, I think this is the most challenging task in trading. Finding connections between what will happen next when certain patterns appear, studying them at length, then finally trusting your instinct in real time when you can;t see what the rest of that chart will look like. My husband asked me...

- 619 (From now on my blotter will be on the P&L 2008 thread; this journal will include a chart of the day attached instead). This was a day where every trade I hesitated over or was unable to trade paid off big. I started to feel jinxed, but at least I something profitable at the end of the...

- 619 Tried to pick a top with ESRX and got burned. Good call, bad timing :eek:

Amen! As for teaching a close relative how to trade, as long as the "student" initiates the interest, why not?

Jon, I'll let you know. My husband is automating my primary strategy and will be testing it shortly. The only time my strategy fails to be profitable overall is when I (the human factor) mess around with it. It appears shortly I will be competing with myself in pure electronic form.

You make a very good point. I wonder what the stats are on those who survive year 1? I know real estate agents are right up there with traders on the Top 10 list of first year failures, but the ones I know who survived the first year are make a decent living. Signed, Trader trying to...

BH, your PS and PSS on the previous page sparked an epiphany in me yesterday. My past 6 months experience combined with your comments (and 1R's comments about not rushing into things), all sort of fit into a place for me yesterday and I had an "aha" moment. We'll see if it translates to greater...

I've attached the FLR chart with the initial reasoning for my trade, the mistakes I made, and how my optimal trading strategy would have made for a very profitable trade.

BH, I refer to a reversal of a trend as a retracement. As 1R states above, I am trying to get in at a good price, whether long or short, but normally I wait for a failure to make a new high or low, which in most cases indicates a true reversal, not a false positive. With FLR I definitely...

Neke, sorry about your week. What was your reasoning behind the large position in WYNN? Just my two cents, but I would only consider such a large position on a stock that was trading near 52-week highs or lows and far from its 20-day moving average. In that case it would be likely to pull...

How about "Day Tripper" with alternate lyrics: 'Cause I'm a day trader. One day ticket, yeah. I hold it only so long, Then I'm out, yes I'm out!

Awesome day 1R, nice trading! I will miss "Die, CNC, die!", but you probably won't :D

+ 701 I decided today would be an exercise in discipline and overall was pleased with how I did. Although my trades were not profitable, practicing strict adherence to a plan gave me additional confidence. Bought FLR @ 71.96 this morning when it retraced after a pullback. Normally I wait...

+ 701 Great learning day for me, exercised discipline, didn't choose the best trades, but gained a lot of confidence. Sometime soon I'm gonna have a "Nordik" day :p Good weekend all!

- $890 First thing this morning I placed FWLT stops at 48.50 in all the IRA accounts. I had a feeling they’d pull back after yesterday’s massive bounce and wanted to lock in some profits. They ended up stopping out for a total gain of $550. I plan to buy shares once again in the IRA...

- $890 I am an idiot :( Still holding unrealized gains of $820 on NVAX and $1082 on the AMED Sept calls, which makes today's P&L a little more palatable Hermit, well played! Nordik, please buy all of us something:p