Search results

LMAO :p I said to my husband not an hour ago, "You know, I think I've only had one long trade in over a month. I really need to play both sides of the market." (I did go long DRYS @ 3.48 in our IRAs in late November. Almost a 5-bagger so far :cool: )

+ $450 Shorted TIF @ 25.81 when it failed to make a new high, covered on oversold pivot @ 25.68 for a $65 gain. Pivot failed and I ended up leaving $250+ more on the table. Shorted APOL @ 79.00 on a very weak attempt to test previous resistance. Covered @ 78.60 less than 2 minutes later...

+ $450 Only put on about about half the setups that beckoned, so not bad considering only 5000 shares traded round trip :cool: Holding a TIF short overnight @ 25.66 unless filled in after hours.

-$218 FSLR opened lower and I thought about taking $100 profit on the put, but really expected more downside based on the 30-day chart, so left my 20% stop in place instead. It rallied and took out my stop with slippage for a $220 loss. It’s frustrating to give up a profit and end up with a...

- $218 Failed to take small profits twice, ended up with losses on those. OK, got all that red of my system for 2009, on to green days now :cool:

This is the worst thing that can happen to a trader. It ended up costing me more money than ANYTHING else.

The first 20-30 minutes establish an initial high and low for the day (a personality as NY_HOOD puts it). You can then compare these points to the previous day's highs and lows, and the longer term S/R levels and use this info to your benefit because usually the first two pivots of the morning...

Maybe both will win. I've shorted a stock at the same time my fellow trader went long and we both made a profit within 30 minutes.

Hog, we're in the chat room all day together. You are welcome to just yell at me any time.:D :D :D Seriously, I totally agree that I need to work on trend following on days like yesterday. My most profitable day last week was when I was shorting on a down day and it was great - every trade...

"Past performance does not guarantee future results."

Sky, I'm curious why volatility caused your system to turn on you. As you know, we're developing an automated system based on a particular strategy that should hold up under any market condition because a) it trades both long and short, and b) I haven't seen any evidence that the setups which...

The chart action indicates it should pull back, but I've no idea where the market will take things next week. (I've only been trading since spring, so winter is new to me :p ) Have your stop in place and good riddance if it continues to move against you. I have the same situation with a...

The dividend is .20 cents. The price is poised for a pullback. If it pulls back to trend line support, it could drop $1/share. The risk seems too strong for what you want to do, IMHO.

Tommy, for what it's worth, RIMM is now seriously overbought on the daily chart :cool:

- $406 Unfortunately I fought the market today and the market won. Covered remaining DRI short @ 28.04 for a $160 gain. Shorted DRI again @ 28.49 at overbought, but this was not smart because that 28.49 was the HOD at that point and I am supposed to wait patiently for a test of the HOD...

- $406 Fought the market a bit today and the market won :eek:

Hog, thanks for this.

What is your exit strategy? Do you have a stop in place? I have a short position running against me too, and there is specific price action that will determine if I close at a loss tomorrow.

Sell Jan puts to get a good price if it drops, but most likely you get to keep the premium.

Tommy, it's only 2/3's of the way to overbought and the trend is a very gradual upward one. If the market continues its "mini rally" or even remains neutral, RIMM will likely attempt a test of 43.34. So the next 2-3 days are not leaning in your favor.