Day Trading Journey
- Thread starter Arkasha
- Start date
Good luck, you'll need it
-- but more importantly, good skill...and good wisdom...and good mind...and good execution...and good philosophy...and good tactics...and good fantasy...and good realism...and good idealism...and good calmness,Throw out conventional wisdom whatever you learned from random bozos and books. and try to become an independent thinker...seeing and realizing the divine trading light for yourself,
It all depends on the person, and the tactic. The word investing (to me) really means putting your money into something for a longer time, and while your money is tied up somewhere, your making profit from it! Trading is more of executing trades and making profit, while not risking your capital for longer periods of time! Once again (for me) that is!
Best to be flexible and not limit yourself from just taking long term trades. The same goes with just trading from the long side.
All single strategies have there limitations. Me on the other hand, after 30+ years of learning this stuff, I developed a dislike for ridged approaches. I like what i like and to you, i say Good hunting. I hope you bag a bunch.
Here are the parameters of the journal, Trading a demo account with $30000 starting balance! Only $2 to $3 thousand will always be on the risk line depending on the trade!
Here is the first trade executed. CBI gaped down before the open and then started heading higher just as the market opened! then i noticed a inverted head and shoulders pattern and as soon as price peeked its way out of the neckline i executed a buy trade! After price broke the neckline and started heading up i though that was it its going higher, but, then it started to get rejected and started to head lower, I though i made a mistake and started to analyze the trade. Then i noticed that the regular volume is at 5 million, and the current volume was around 8 million and i knew that it will head higher just give it a little time. I adjusted the stop loss and was waiting, almost thought i was out, but, the volume kept increasing so I knew it would continue up, just a little bit!
The trade performed lovely and i got in at $13.10 and got out at $13.34. Trading 3000 shares netted $720!
2nd trade was taken on BX. BX setup a great quick opportunity. There was 2 inverted head and shoulders back to back, I usually use one H&S signal to execute a trade, of course with other strong confirmations, but, here we had 2 back to back, which gave me more confidence and power for this trade to head higher. Buy trade executed at $32.49 with 600 shares, then additional 1000 shares executed at $34.55. The trade was made flat at $32.66 for $212 profit!
That's it, that's my trading day. Going to work on my Gixxer, I hear its going to be a nice day! Careful with your trading everyone, trade what you know, and wait for the stock to call you in!
Here is the first trade executed. CBI gaped down before the open and then started heading higher just as the market opened! then i noticed a inverted head and shoulders pattern and as soon as price peeked its way out of the neckline i executed a buy trade! After price broke the neckline and started heading up i though that was it its going higher, but, then it started to get rejected and started to head lower, I though i made a mistake and started to analyze the trade. Then i noticed that the regular volume is at 5 million, and the current volume was around 8 million and i knew that it will head higher just give it a little time. I adjusted the stop loss and was waiting, almost thought i was out, but, the volume kept increasing so I knew it would continue up, just a little bit!
The trade performed lovely and i got in at $13.10 and got out at $13.34. Trading 3000 shares netted $720!
2nd trade was taken on BX. BX setup a great quick opportunity. There was 2 inverted head and shoulders back to back, I usually use one H&S signal to execute a trade, of course with other strong confirmations, but, here we had 2 back to back, which gave me more confidence and power for this trade to head higher. Buy trade executed at $32.49 with 600 shares, then additional 1000 shares executed at $34.55. The trade was made flat at $32.66 for $212 profit!
That's it, that's my trading day. Going to work on my Gixxer, I hear its going to be a nice day! Careful with your trading everyone, trade what you know, and wait for the stock to call you in!
