A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
What hotpuddles isnt telling you is that I bought APC right after the run up on the first major higher low (the first green bar after the white line he drew). I bought at 65.17 and eventually moved my stop to 64.97 (which hit). The reason we were watching this stock long is the daily chart was VERY extended to the down side and decided to look for a long on any higher low (which we both missed). My entry was high risk due to the huge original stop and the fact that this stock had made a large run already into a large selloff, but if I took BP at the same time as I took APC that would have actually hit tgt.
.................
(hotpuddles...thanks for rubbing salt. You couldnt put in the GS short I took that went for a $1.20 gain in about 30 seconds?)
Jeg I need a belly rub!!
Puddles gets to watch me trade everyday, so I think it is fitting for him to start this thread up on a daily basis and post trades that he takes in realtime, to watch his progression as a trader.....he is following the same trading plan I have, a 2:1 reward/risk ratio and tracking the same chart set ups that I use.
I've also asked him to include charts at the end of the day to help show what he was looking for on on his entries.
Puddles is also free to post any of my trades in here as well (as long as he doesnt post any of Jeg's).
Puddles..the floor is yours, good luck!
I've also asked him to include charts at the end of the day to help show what he was looking for on on his entries.
Puddles is also free to post any of my trades in here as well (as long as he doesnt post any of Jeg's).
Puddles..the floor is yours, good luck!
<img src="http://humanfund.ca/puddles/20100504-real/spy.png">
<img src="http://humanfund.ca/puddles/20100504-real/mon.png">
2:50
MON SHORT 61.1
STOP 61.28
TGT 60.74
- MON weak daily chart, it's been on my short watch list for over a month
- Weak all day just like SPY.
- I missed the really clean lower high at 2:15 and decided to try to find another entry to go short.
- Narrow range set up so I looked to short the break of the range.
- Short at 61.1.. SPY start to shows a little life and I quickly stop out -0.18
What I probably did wrong here.. MON was not showing any significant relative weakness to SPY in the period leading up to my entry.. I should have thrown this out.. COST was a much better setup through the day as it had great relative strength..
Lesson learned..
(btw, you can only attach one file?!)
<img src="http://humanfund.ca/puddles/20100504-real/mon.png">
2:50
MON SHORT 61.1
STOP 61.28
TGT 60.74
- MON weak daily chart, it's been on my short watch list for over a month
- Weak all day just like SPY.
- I missed the really clean lower high at 2:15 and decided to try to find another entry to go short.
- Narrow range set up so I looked to short the break of the range.
- Short at 61.1.. SPY start to shows a little life and I quickly stop out -0.18
What I probably did wrong here.. MON was not showing any significant relative weakness to SPY in the period leading up to my entry.. I should have thrown this out.. COST was a much better setup through the day as it had great relative strength..
Lesson learned..
(btw, you can only attach one file?!)