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Geez, I've been shamelessly pumping your journal around here. Soon you'll have posts from Warren Buffet asking for day trading advice. :D

Daniel, thank you so much for your inspirational words. You really put things into perspective. Someone on ET named lilduckling once said the best thing to do when you have a tough day is to just cry and you will feel much better. Whew! I feel much better now, friend.

Thank you, fishing! The reason I would like to trade futures and you would like to trade stocks is because the profits are always greener with the other trading instrument :p Actually, I wanted to give it a go because I get easily distracted following several charts and the high/low ticker...

cae, yes it was a large position, built up over a period of days as AIPC ranged near its 52-week high. However, you can check with cor (who also watches and trades this one), he will confirm that I've said for the past 3 days that the target price was 32.00 and my husband was standing strong by...

Not disturbing the flow at all! I consider this journal a teaching tool for myself and anyone else interested in the gritty details of an often difficult job. :eek: If I see stocks trading hugely overbought near major resistance, I sometimes swing trade to the short side, either via options...

(ET site seemed to be down for a while.) -$145 (This does not include the $1560 AIPC profit described below) This was a very bad day, placing me in a very bad space. It was in fact my second worst day ever as a trader, psychologically. Nothing I did was right. The most frustrating thing is...

Geez, great day! Hey, I did chart for DXD like you said, but the time, target and stop you gave in chat were totally different so the chart is wrong. We'll try again next time.

- $145 Had a $1560 gain (not included here) in shared AIPC trade with husband, $12,000 left on the table and if you think I'm kidding look at the chart posted in my journal. Psychologically, this was the second worst day in my entire life as a trader. I hope this will forever be my second...

Thanks Mephistophilis! I agree that keeping it simple is the way to go, and I also believe you can successfully day trade using the 20-period moving average alone, although stochatsics help you confirm overbought/oversold conditions. When a stock price has pulled far from its 20-period MA, it...

Ahhh, I see. That explains the occasional pain I feel. Those sharp steely nerves.

Frank, thank you! Once people realized financial companies weren't going under immediately, a major reason for the selloff into March was removed. Now the talking heads are urging everyone to buy dips because a bottom has formed. So once a "dip" is perceived that allows the crowd to believe...

Yes, I will getting a demo futures trading account set up soon, with its own computer and two monitors! If I'm wildly profitable with the demo account for a reasonable period of time, say, a month, I will be sure to smash the computer and monitors to bits at that time to avoid any actual risk :p...

- $79.00 This result was caused by taking a tiny percentage of my valid setups. I'm not sure why I'm not taking all my setups, only a few. This is a big problem, because by acting on all my signals today I would've made ample profits. Short SYNA @ 26.95, L2 weakness indicating failure to...

- $79.00 Absolutely disgusted with my under trading today. Setups all over that I thought about and simply didn't take. My goal tomorrow is to trade aggressively come hell or high water.

What didn't?

Thanks, IWT. I believe the MFE trade setup was solid, and my stop was excellent. My only regret was not exiting at b/e when the L2 price action landscape changed. I'm not sure how to describe it but there's a certain look the L2 gets that I've come to recognize as an early alert system for a...

I was considering the re-entry, but saw MYGN back in my short zone and MYGN was weak vs the market earlier, so I thought it was good for a larger quicker move. What really kills me is that I placed a target order instead of just letting the trade ride!

The price is based on the fact that demand is exceeding supply, whether the demand is from short covering or actual new longs. AZO has a fairly high short interest of nearly 12%, but that's not ridiculous like SYNA at 60%. If you want to short a stock in this sector that you believe is priced...

Thanks, niteowl! Right now we have unrealized losses from last year that carry over, so we will simply apply gains against that, then recognize gains beyond that as short term capital gains, taxed as regular income. I'm not too worried about the wash sale rule right now, because my plan is to...

Thank you, OC! I do not use a fixed profit target. My first target zone is a) the opposite stochastic spectrum from my entry, or b) an expected pivot off a trend line or moving average. Although I usually take profits at these points, I sometimes exit sooner if the Level 2 price action...