A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
not a good day
9:38
(1 min chart)
SHORT SNDK 43.14
STOP 43.24
TGT 42.94
+0.2
9:42
SHORT SNDK 42.9
STOP 43.07
TGT 42.56
out -0.17
9:50
LONG RIMM 59.25
STOP 59.13
TGT 59.49
out +0.24 (actually took +0.35 on it because i totally messed up
9:58
SHORT TEVA 52.31
STOP 52.44
TGT 52.05
out -0.15
(2 minute)
10:27
LONG RIG 46.61
STOP 46.44
TGT 46.95
out -0.17
9:38
(1 min chart)
SHORT SNDK 43.14
STOP 43.24
TGT 42.94
+0.2
9:42
SHORT SNDK 42.9
STOP 43.07
TGT 42.56
out -0.17
9:50
LONG RIMM 59.25
STOP 59.13
TGT 59.49
out +0.24 (actually took +0.35 on it because i totally messed up
9:58
SHORT TEVA 52.31
STOP 52.44
TGT 52.05
out -0.15
(2 minute)
10:27
LONG RIG 46.61
STOP 46.44
TGT 46.95
out -0.17
<img src="http://puddles.humanfund.ca/20100611/spy.png">
<img src="http://puddles.humanfund.ca/20100611/sndk.png">
<img src="http://puddles.humanfund.ca/20100611/rimm.png">
<img src="http://puddles.humanfund.ca/20100611/teva.png">
<img src="http://puddles.humanfund.ca/20100611/rig.png">
(all 2 minute charts except for SNDK)
9:38
(1 min chart)
SHORT SNDK 43.14
STOP 43.24
TGT 42.94
- SPY gaps down and heads up, SNDK gaps down and shows weakness
- Short under a lower high
- out +0.2 in a hurry
9:42
SHORT SNDK 42.9
STOP 43.07
TGT 42.56
- SPY continues up after i lift my target on the prior trade
- SNDK continues down, short under the lower high
- out -0.17
9:50
LONG RIMM 59.25
STOP 59.13
TGT 59.49
- RIMM gaps down but is very strong after open going green.
- the 10:00, :02 and :04 bars of SPY are green, RIMM holds a little strong
- Long over a tight higher low
- out +0.24 (actually took +0.35 on it because i totally messed up
9:58
SHORT TEVA 52.31
STOP 52.44
TGT 52.05
- TEVA significantly weaker than SPY from 9:40am to 10:00am
- short under a lower high
- out -0.15
- boy we got that one wrong!
10:27
LONG RIG 46.61
STOP 46.44
TGT 46.95
- RIG gaps up and is strong all day
- RIG doesn't participate in SPY's small pullback from 10:14-10:18 and continues to make new highs
- long over the next higher low
- out -0.17
i had sizing issues today (winning trades were sized too small, losing trades sized too big, standard) so i'm net in the red even though i should be green as per the plan.
6-11-2 on the week. basically a b/e week. broker's best friend.
31-32-6 since the journal started.
http://puddles.humanfund.ca/wp/2010/06/11/2010-06-11-trades/
<img src="http://puddles.humanfund.ca/20100611/sndk.png">
<img src="http://puddles.humanfund.ca/20100611/rimm.png">
<img src="http://puddles.humanfund.ca/20100611/teva.png">
<img src="http://puddles.humanfund.ca/20100611/rig.png">
(all 2 minute charts except for SNDK)
9:38
(1 min chart)
SHORT SNDK 43.14
STOP 43.24
TGT 42.94
- SPY gaps down and heads up, SNDK gaps down and shows weakness
- Short under a lower high
- out +0.2 in a hurry
9:42
SHORT SNDK 42.9
STOP 43.07
TGT 42.56
- SPY continues up after i lift my target on the prior trade
- SNDK continues down, short under the lower high
- out -0.17
9:50
LONG RIMM 59.25
STOP 59.13
TGT 59.49
- RIMM gaps down but is very strong after open going green.
- the 10:00, :02 and :04 bars of SPY are green, RIMM holds a little strong
- Long over a tight higher low
- out +0.24 (actually took +0.35 on it because i totally messed up
9:58
SHORT TEVA 52.31
STOP 52.44
TGT 52.05
- TEVA significantly weaker than SPY from 9:40am to 10:00am
- short under a lower high
- out -0.15
- boy we got that one wrong!
10:27
LONG RIG 46.61
STOP 46.44
TGT 46.95
- RIG gaps up and is strong all day
- RIG doesn't participate in SPY's small pullback from 10:14-10:18 and continues to make new highs
- long over the next higher low
- out -0.17
i had sizing issues today (winning trades were sized too small, losing trades sized too big, standard) so i'm net in the red even though i should be green as per the plan.
6-11-2 on the week. basically a b/e week. broker's best friend.
31-32-6 since the journal started.
http://puddles.humanfund.ca/wp/2010/06/11/2010-06-11-trades/
Nice job puddle! I love your charts... I used to add charts for GEEZ when he was in action 
Few things - Sorry if you've already addressed it (big thread, could not read all).
1. Trading on 1m or 2m chart is random. Too much noise, less signal !!! GEEZ strongly suggest us to not go anything below 5m... Most successful trader will agree that 15m or 30m is even better but it won't give you much signal for day-trade. Good if you are willing to keep it overnight.
2. Did you notice some pattern in your failed setup? Count the number of possible 1-2-3 setup since open (on 5m chart). It is more likely to fail if you are entering on 3rd or 4th set-up.
3. Consider doing a quick analysis of all failed setup. Do they cluster in some specific period of time? If yes, avoid that time period. Leave the workstation and do something else.
And last but not least, good luck trading
Few things - Sorry if you've already addressed it (big thread, could not read all).
1. Trading on 1m or 2m chart is random. Too much noise, less signal !!! GEEZ strongly suggest us to not go anything below 5m... Most successful trader will agree that 15m or 30m is even better but it won't give you much signal for day-trade. Good if you are willing to keep it overnight.
2. Did you notice some pattern in your failed setup? Count the number of possible 1-2-3 setup since open (on 5m chart). It is more likely to fail if you are entering on 3rd or 4th set-up.
3. Consider doing a quick analysis of all failed setup. Do they cluster in some specific period of time? If yes, avoid that time period. Leave the workstation and do something else.
And last but not least, good luck trading
Quote from TraderSU:
Nice job puddle! I love your charts... I used to add charts for GEEZ when he was in action
Few things - Sorry if you've already addressed it (big thread, could not read all).
1. Trading on 1m or 2m chart is random. Too much noise, less signal !!! GEEZ strongly suggest us to not go anything below 5m... Most successful trader will agree that 15m or 30m is even better but it won't give you much signal for day-trade. Good if you are willing to keep it overnight.
2. Did you notice some pattern in your failed setup? Count the number of possible 1-2-3 setup since open (on 5m chart). It is more likely to fail if you are entering on 3rd or 4th set-up.
3. Consider doing a quick analysis of all failed setup. Do they cluster in some specific period of time? If yes, avoid that time period. Leave the workstation and do something else.
And last but not least, good luck trading
Glad you like the thread and charts. It was geez who encouraged me to continue the journal and to post charts of all my entries.
1. geez is the one that taught me how to trade 1/2m charts. I only use them at the open or when I'm looking really aggressively for a position (generally extended stocks). Friday I was probably too aggressive all around.
2. I'd only rule out a nth setup in a row if the stock seemed to be extended on the day. Beyond that I'll take the entry. All I need is a 50% chance of it hitting the target and I don't need to over analyze my entries (that's not the point of this method). Take a look at the RIMM chart on this day.. http://puddles.humanfund.ca/wp/2010/06/04/2010-06-04-trades/
3. I try to never trade 11-2. It's always a slow period. I try to avoid friday afteroon's too.