gotta_trade's swing trades

gotta_trade - what are you looking for by way of support? Trendlines, moving averages, previous highs/lows...all of the above?

I am enjoying your journal and hope the success continues! Best of luck...
 
Quote from kernan:

gotta_trade - what are you looking for by way of support? Trendlines, moving averages, previous highs/lows...all of the above?

I am enjoying your journal and hope the success continues! Best of luck...
More...

Hi kernan,

Thanks for your positive thoughts towards me and my trading.

I would have to say that the moving averages are the first thing that will attract me to the trade. If the moving averages aren't there, I won't even know about the trade.

Then I visually look at the chart and notice how strong the trend is. There are many many stocks that will fit my criteria but I use my own visual discretion to weed them out.

I am completely aware of the previous swing highs and lows.

I never look at "technical" patterns such as head and shoulders, triangles, rectangles, squares, circles, octagons, or any other shape that the price pattern will make. It's not that I don't think that they work. It's just that there are too many of them and I'm sure that my imagination can create any pattern within a chart. It's like looking at a cloud and finding an image in it. If you have an imagination, you can see anything. It just complicates it for me. I want to keep it as simple as possible without having too much to think about.

I am interested in the trend, not the trendline. In my opinion, the market isn't exact enough to base my trade on a trendline. That also complicates the process for me, I want to keep it simple as I can. I just feel comfortable that way.

I don't look at exacts within the market. I look at the general price areas. But, when my initial reason /premise for the trade is no longer valid, I will exit.

I don't know how successful my strategy will be, but I do know I should have a fair chance to hold my own.

I will play it slow and safe. I don't want to experience fear, doubt, and anxiety. If I experience any of those feelings, I am sure to lose.

I must have confidence in myself, my method, and my discipline. I believe that many many strategies will work, as long as you get rid of the feelings of fear and greed, and you gotta have confidence in yourself and your method. It's also extremely important to be consistent too. You gotta be consistent with your method and your discipline.

It's also important for me to view trading as enjoyable. If it's not, that will add anxiety and it will be easy for me to lose money.

Well, those are some of my thoughts. I know I'm not the most articulate person in the world, but I hope you and others get the point that I'm trying to make.


Thanks,
gotta_trade
 
I also use TC2000 for my scans and for backtesting data with TC Companion. My best swing methods have turned out to be a modified Gann system, and one of the scans is what you are depicting. That is, an uptrend, a pullback of at least two lower lows and then a buy stop. This scan will find most of what you are decpicting here:

(AVGC28>AVGC28.5)AND(H2>H1ANDH2>HANDL2>L1ANDL1>L) Set capital and volume to your preference.

A scan that tests much better waits for the pivot to form:

(EVGC28>EVGC28.5)AND(H3>H2ANDH3>H1ANDL3>L2ANDL2>L1ANDL1<L)

Chuck
 
Quote from gotta_trade:




Well, those are some of my thoughts. I know I'm not the most articulate person in the world, but I hope you and others get the point that I'm trying to make.


Thanks,
gotta_trade
More...

On the contrary - that was a very well thought out post, and I got a lot from it. Thanks for sharing! I will be following the thread.
 
EOD: Tuesday, June 17, 2003



TODAY'S TRADES:

Bot 100 PSS 52.46 (scaling out, + $2.18, still short 100 shares,1/5 of original position)






OPEN POSITIONS:

5/29/03..... SS... 100 PSS @ 14.83...... + 2.23
5/30/03..... B..... 250 POG @ 31.40...... - .38
6/02/03......B......100 FR @ 30.45........ +.1.25
6/05/03......B......200 MCY @ 46.59.......- .09
6/10/03......B......200 AMZN @ 34.14.....+ 1.70
6/10/03......B......200 MTX @ 48.00.......+ 2.01
6/10/03......B......100 TBL @ 50.25........+ 3.18
6/10/03......B......200 TBI @ 28.22........- .43





Unrealized P&L................................. + $1,209.00

Realized P&L...(as of 6/1/03)...............+ $1,348.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,557.00
 
EOD: Wednesday, June 18, 2003



TODAY'S TRADES:

Sold 250 POG 30.90 (closed last portion of position, -.50)

Sold 100 AMZN 36.88 (2nd scale out, +2.74, still long 1/3 of origional position)






OPEN POSITIONS:

5/29/03..... SS... 100 PSS @ 14.83...... + 2.68
6/02/03......B......100 FR @ 30.45........ +.1.00
6/05/03......B......200 MCY @ 46.59.......- .18
6/10/03......B......100 AMZN @ 34.14.....+ 1.71
6/10/03......B......200 MTX @ 48.00.......+ 1.76
6/10/03......B......100 TBL @ 50.25........+ 2.12
6/10/03......B......200 TBI @ 28.22........- .54





Unrealized P&L................................. + $977.00

Realized P&L...(as of 6/1/03)...............+ $1,497.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,474.00
 
EOD: Thursday, June 19, 2003



TODAY'S TRADES:

Sold 200 TBI 27.35 (closed last portion of position, -.87)

Bot 300 COG 28.35 (new position)






OPEN POSITIONS:

5/29/03..... SS... 100 PSS @ 14.83...... + 2.58
6/02/03......B......100 FR @ 30.45........ +.1.11
6/05/03......B......200 MCY @ 46.59.......- .73
6/10/03......B......100 AMZN @ 34.14.....+ 1.36
6/10/03......B......200 MTX @ 48.00.......+ 1.04
6/10/03......B......100 TBL @ 50.25........+ 2.22
6/19/03......B......300 COG @ 28.35.......- .05




Unrealized P&L................................. + $774.00

Realized P&L...(as of 6/1/03)...............+ $1,323.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,097.00
 
Quote from gotta_trade:



I'm a daytrader. I am a pretty active daytrader, so I'm paying relatively low commissions.

Yes, you are right, I do need to ramp up size. But first I need to see if this method will hold it's own. So, for now, I'll play small size. If this method proves to be profitable, I won't hesitate to increase my position size.

I have been daytrading full-time for 9 years now. I have always made money, sometimes alot and sometimes a little. But, I have learned that it is not good to take foolish risks. It would be foolish for me to beef up my swingtrade position size at this stage. (I've only been swing trading for 7 days) If I was playing big size, fear and greed would get in the way, and I would surely lose.

I'm very interested and exited about swingtrading. I hope it works out.
More...


Hitman, used to post his trades....

Every now and then, the other prop firms which are commission model driven, employ someone to use a new handle, which eventually gets over 2,000 comments in 2 months time, to encourage through example others to trade, similar to this thread

Really, there's not enough time in the day to post so frequently, trade, scan, analyze, and reply to the comments that a thread like this engenders.

Baron has instituted the restriction of 60seconds between posting replies so as to slow this explosive growth....

The fundamental flaw in your response is the notion that once you're ready to ramp up, you will have similar circumstances like the foregoing to get similar results to what you did at your 100 share trading level.

A space shuttle lifts off only once per flight...
To sample a method during the market liftoff from March 23rd to present (June '03) and then expect similar results going forward lacks common wisdom.

I have found that same flawed reasoning at the basis of almost every sales pitch from these chop shops in their sales presentations regarding starting off small and ramping up big..

Simply put, a trader knows that the wind is favorable, and he launches all his boats, not just a few, because there are many events that come around once in a long while and are not predictable...
 
EOD: Friday, June 20, 2003



TODAY'S TRADES:

(no trades)



OPEN POSITIONS:

5/29/03..... SS... 100 PSS @ 14.83...... + 2.22
6/02/03......B......100 FR @ 30.45........ +.1.14
6/05/03......B......200 MCY @ 46.59.......- .84
6/10/03......B......100 AMZN @ 34.14.....+ 1.03
6/10/03......B......200 MTX @ 48.00.......+ 1.15
6/10/03......B......100 TBL @ 50.25........+ 2.00
6/19/03......B......300 COG @ 28.35.......- .50




Unrealized P&L................................. + $551.00

Realized P&L...(as of 6/1/03)...............+ $1,323.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $1,874.00
 
gotta trade,

look like you have been doing very well. Wonder when can I ever reach your stage :)

Still struggling hard to keep my discipline in place
 
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