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+ $64 Terrible focus and trade management today. Today’s grades: Only taking strong setups: C. Trusting my indicators for exits: D. Following my plan: B (but my plans were not good ones). Staying focused and following up: F. Started well, shorting APOL @ 76.91 coming off highs with a...

+ $64 Started out well, then was down $610 due to REALLY DUMB TRADE MANAGEMENT. Then made it all back by implementing REALLY SMART TRADE MANAGEMENT, ending what should've been one of my best days ever with a whopping $64. :eek:

I realized that part of my journal was not copied into the last post, so here is the rest of my day: Shorted AMGN again @ 59.41 on another strong run up close to the HOD, test of which failed and my profit target of 59.21 filled for a $100 gain. Then I made my mistake of the day. I shorted...

I believe it's possible to beat the market, especially intraday when you're not nearly as likely to be killed by a gap (yes, there's the occasional trading halt, but that's quite rare unless you're a particular trader I know :p). When I follow my rules and my plans I make one profitable trade...

+ $423 Started the day with a good workout at the gym. Followed by smoothie WITH BLUEBERRIES! My goal for today was to ONLY take strong setups. I passed this test completely: A+. My secondary goal was to trust my indicators for exits. I scored about a C on that one. My ongoing goal is to...

+ $423 Only trading strong setups: A+ Trusting indicators: C Following trading plans: C- Much better than yesterday!

This is my main working layout, which uses 4 monitors. Clockwise from upper left: Watch list with options analysis Level II / Market Depth / Order Entry Two stand alone 3-minute intraday charts Daily (30-day or greater) and 3-minute intraday chart linked to the stock I click on the...

Jegnyr, you've completely pinpointed it! I'll remember what happened with a stock the day before and think, "Oh, it will do that again" and because I missed "that" the day before, I put on the trade even though it hasn't set up yet! The discipline required to trade well is huge. I can see why...

Shorted a couple times last week, both profitable. Looks like it'll be setting up again soon.

- $388 The day started off well. I shorted POT early on @ 74.27 when it had a nice run up and the stochastics pivoted from an overbought condition. Because it was a very early trade without the day’s history behind it, I covered @ 74.05 for a $45 gain as it approached oversold and was close...

- $388 Several profitable days in a row trading well, then I wipe out 2/3 of my profits in one day with two low probability trades! No reason for this; I know how to trade! I can accept a loss if I've followed my rules on a strong setup. So why bother with anything but the best setups...

POT and AAPL options have tight spreads near the money, and are incredibly liquid. AAPL options for example have a spread of .05 and even tighter sometimes. I've day traded them often when they approach major support/resistance levels. The leverage makes for a quick return without tying up too...

Hermit, we both trade for a living. One day you make money and I lose it. The next day we trade: I make money and you lose it :D :D

I think traders/investors are catching on to this bullshit. Look at how DRYS rallied nicely after being downgraded by TWO firms to underperform; MOS rallied nicely after lowering guidance; and POT rallied beautifully since having its target price lowered by about 4 ANALyst firms last week. Oil...

Sparkwise, I plan to switch to IB at some point, but right now I am so comfortable with my trading platform and still learning the ropes, so I don't want to make a major change right now.

+ $213 I traded significantly more than usual as I continue to practice my trade management and get really comfortable with my indicators. The current market is quite jumpy and I ended up exiting some trades much too soon, and not exiting a couple soon enough. Every one of my trades was...

+ $213 Great learning day for me, and 11 out of 14 profitable trades, too :cool:

Interesting, I placed a limit order that wasn't hit, then tried to short at market and suddenly no shares available message. Oh well.

Chart with rationale for the trade is attached. Seems to be a high probability short to me.

Wow, that would be simply McDASTardly :D