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

Hi Geez,

Just started reading your journal and I like your style and strategy. Great job so far this year. Keep it up!

I was wondering if you could talk about how you derive your watch lists in the morning and what causes you to deviate from it. For instance, today you have traded a few things that weren't on your watchlist so I was also wondering how those popped up for you (like SKF). Obviously, financials are the big movers today so that played a part. But just curious again how the list is derived and what makes you deviate to other stocks during the day.

Thanks again!
 
Quote from geez:

5/11/09:

11:19 1000 COF SHORT 28.27
STOP 28.47
TGT 27.87
More...

1:09 1000 COF EXIT 27.77
P/L + 487.09

*made mistake on this, set wrong tgt..dumb mistake..got lucky.
Will explain later.
 
Quote from Thanagar:

Sometimes it's better to be lucky than good. Was your real target 27.97 based on that low around 10:15?
More...

Well Thanagar..I really screwed this trade up to be honest...
1st I had the wrong stop (22.47) should have been OVER 22.50.
2nd I had wrong entry (22.27) should have been 22.22. My charts were lagging and I didn't realize that.
3rd: I actually hit my intended tgt and I had the tgt set as if I had a .25 stop not .20 stop.
the worst past is...this is the only trade I made $$ on today...ughh.
Lessons learned everyday.
 
Quote from geez:

Well Thanagar..I really screwed this trade up to be honest...
1st I had the wrong stop (22.47) should have been OVER 22.50.
2nd I had wrong entry (22.27) should have been 22.22. My charts were lagging and I didn't realize that.
3rd: I actually hit my intended tgt and I had the tgt set as if I had a .25 stop not .20 stop.
the worst past is...this is the only trade I made $$ on today...ughh.
Lessons learned everyday.
More...

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2422376" />

Thanks,
 

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