A 70k bet that I can't make a 50% gain in 2009

Quote from One2:

Great post geez. Alot of helpful advice. I just subscribed to this and Nodoji's threads so hopefully i can get a better idea about how to trade these markets. One more thing. What kind of order will let you set a stop and target price. For example sell XYZ if it hits your stop but also sell if it hits your target or does this have to be done mentally.
More...

one2:

On the trading setup I am using for this bet you can't set both a stop and target, so I set the stop first then set alarms .20 from both the target and the stop to let me know if I am getting close. When I approach the target I cancel the stop, then enter the target.
But the account that I have used for the past 8 years you can set both a stop and target as long as you have enough capital(or margin) to cover both sides of the trade. Let me know what trading platform you are using and I can tell you how to set it up.
 
02/11/09:

On daily charts I would like to see 1-2 days of basing here on the markets to look for a continuation move lower,so staying in strict scalp mode today.
 
Quote from geez:

02/11/09:

14:12 500 DXD BUY 63.47
STOP 63.07
TGT 64.27
More...

14:35 500 DXD EXIT 63.06
P/L -219.20

Like trading a fed day today.....whew
 
02/12/09:

Today looks like a traders day......

SPY and DIA are setting up perfectly on the daily charts to move lower, so I will look to short them(or buy DXD SDS).

The QQQQ on the other hand looks alittle bullish on the daily & there are alot of tech stocks setting up bullishly for this morning:

AAPL ADBE CREE BRCM XLNX JNPR among others.

So today as we gap down I will be looking VERY early to get into a long in one of the tech stocks, or let them move down and buy around the 10:00 reversal time.
If we rally early I will then look to get into a SPY or DIA short. If the setup is good enough and depending on the time of day, I may look to carry some DIA or SPY short overnight.
Overall this looks like the type of day that I usually get about 5 trades in due to the fact that various setups are taking place on the same day.
 
Well...as the chat room can tell you, I had my internet going in and out all day(past two days actually). 50+ mph winds in DC the past 2 days cut my connection down..which I realized when I had 7...YES SEVEN...orders not get filled, and I kept wondering why???? I finally found out that my connection was very weak & I kept getting bumped off.

My trade today was a GREAT example of having a bogus connection:

The actual entry for SDS SHOULD have been 81.61, Stop 81.30, which would have given me a target of 82.22(which was hit on a 5 min. bar).....
Instead my charts were backed up and the high I had for the entry bar was 81.90 (my entry was 81.92) which made my target a $1.50 gain.
When I refreshed my charts I noticed that the setup had changed, but it was too late ,since I was already in a trade(with a setup that I would have took anyway) so I let it ride.
Then, as I kept entering orders throughout the day NOTHING was getting filled. What I now realize is that I was always about 5 min. behind due to my internet.....welcome to the life of a REAL trader. Screw that simulation stuff you may see....this is what happens when you trade for REAL w/ REAL MONEY.

Go back and read what my thoughts were for the morning, I was geared up to make alot of trades(for me) today, and this is what happens sometimes...and THAT'S part of trading....dealing with problems outside the box that may screw w/ your trading plan.
Maybe it's a bad connection, or a cat ran across your keyboard and bought 1000 NVLS when you wanted to wait 5 min. more(true story), or as soon as you put an order in the whole page freezes(yes, true story too), or as soon as you put a short order in, news comes out that they caught Bin Laden(swear..that's true too, only to be declared as false about 1hr. later)

Now here's the beauty: I'm not upset! I accept it and move on. It was just another day. If I look back at my trade log, it was just another -200 loss. There will be no notes saying WHAT COULD HAVE BEEN.....because, the way I look at it, if you are not trading at 100%(being emotion or connection, or any other factor) you should NOT be trading that day..plain and simple.

Hope this helps ........

Hope a few caught the longs in adbe, aapl, xlnx....
tomorrow's a brand new day
 
Quote from geez:

or as soon as you put an order in the whole page freezes(yes, true story too)
More...

Or in a rare moment of daring you put on 3 trades at once and before you can enter stops/targets, your platform simply vanishes from the screen as if it never existed...OK I don't feel individually jinxed now.
 
02/13/09:

Well, the SPY and DIA once again tested the bottom level of this daily base, and once again they moved up.
The stocks I posted yesterday(tech stocks) rallied well yesterday and I may look to them to scalp long today.
As for the indexes, nothing looks good on the daily charts. I will strictly look for intraday setups to decide on a direction to play them today. QQQQ is still the strongest of the 3.
 
You must log in or register to reply here.
Back
Top