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

Quote from snake:

On this trade to you set the target and then calculate the stop based on that target? From the charts, that's what it looks like, which is the opposite of what you usually seem to do.

Thanks.
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The market was trending down the whole morning, what gives you the conviction/signal to go long ?
 
Quote from Thanagar:

Geez, your DIA trade hit its target, but I was wondering why you didn't select DDM instead, given the lack of volatility in the market at the time of your trade.
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thanagar..check out DDM and DIA:
what time would DDM hit tgt (my tgt for ddm would have been .59)
 
Quote from snake:

On this trade did you set the target and then calculate the stop based on that target? From the charts, that's what it looks like, which is the opposite of what you usually seem to do.

Thanks.
More...

No snake, I like to give SPY and DIA alittle room to move. So .20 stop is usually the smallest I go with them. But the 84.42 tgt should be easy to see on the chart (11:05 high)
 
yeah, I saw the logical target which is why I thought maybe you had that in mind. I didn't see much logic (I mean from a chart perspective :) ) to your stop number.

So, you basically just used a flat 20 cent stop and 40 cent target with no real technical basis for the numbers even though the target just happened to coincide with a good target point. Just a solid entry signal.

Thanks for the info.
 
5/12/09:

Total P/L +947.39
4 trades
3 wins
1 loss

* will get to some of the questions regarding the trades later this evening... "other" job beckoning
 
geez,

It is a pleasure to watch someone that has confidence in their system and takes the appropriate actions based on that system without over analyzing the trade.

Hope you don't mind - to the other folks analyzing the financial trades...

Regarding the financial trades, my guess it that he simply looked at the chart - saw an appropriate setup, as pre-defined, and took the trade. Without the extra analysis of the correlation of one stock to another.

I think this kind discipline and belief in your system is what it takes to be successful. See and do.

Still enjoying the journal.
 
Quote from snake:

yeah, I saw the logical target which is why I thought maybe you had that in mind. I didn't see much logic (I mean from a chart perspective :) ) to your stop number.

So, you basically just used a flat 20 cent stop and 40 cent target with no real technical basis for the numbers even though the target just happened to coincide with a good target point. Just a solid entry signal.

Thanks for the info.
More...

Snake,
Yes...solid entry setup. Then I looked to see if a .40 tgt was attainable, saw the 84.42 from 11:05, so I took the trade.
 
Quote from DblArrow:

geez,

It is a pleasure to watch someone that has confidence in their system and takes the appropriate actions based on that system without over analyzing the trade.

Hope you don't mind - to the other folks analyzing the financial trades...

Regarding the financial trades, my guess it that he simply looked at the chart - saw an appropriate setup, as pre-defined, and took the trade. Without the extra analysis of the correlation of one stock to another.

I think this kind discipline and belief in your system is what it takes to be successful. See and do.

Still enjoying the journal.
More...

100% correct...SKF was just way too pretty not to take.
 
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