gotta_trade's swing trades

Quote from loupalerte:

Hi gotta trade

Thanks for your journal, it is very instructive for me.

If you want it, could you explain how your trade is triggered in " the hourly timeframe".

thanks

rod
More...

Hi,

If I enter a trade based on the hourly time frame....I will buy when the stock rallies above a moving average or when it breaks a prior high after it's above a moving average. (opposite for shorts)

A moving average is ONE of the things that I like to have on my side. I also pay attention to the slope of the moving average.


Sometimes I will use the 60 min., sometimes the 30 min., and sometimes I will enter when the price trades above/below the prior day's range.

For my swingtrades, in order for me to enter a trade the stock MUST prove itself first. That's not the case with my daytrades. But that's the way I'm playin' it with the swingtrades.

Hope I answered your question?

Good trading,
gotta_trade
 
Hi gotta_trade, good to hear your swing trades are going well. I just realized that you traded for 9 years as a full time daytrader.

Are you moving towards swing trading because the maximum amount one can make in intraday trading has become too small? It seems like these days, you need to do alot more size to make out decently, and it can get very hard if you're staying in positions for very short periods of time.

Do you think that even for experienced traders, the amount of money they can make in daytrading has become too small (little more than enough to pay the bills) during more normal markets like we have now?

I just want to hear your views.

Thanks, and keep up the great journal!
 
Quote from sktrader:

Hi gotta_trade, good to hear your swing trades are going well. I just realized that you traded for 9 years as a full time daytrader.

Are you moving towards swing trading because the maximum amount one can make in intraday trading has become too small? It seems like these days, you need to do alot more size to make out decently, and it can get very hard if you're staying in positions for very short periods of time.

Do you think that even for experienced traders, the amount of money they can make in daytrading has become too small (little more than enough to pay the bills) during more normal markets like we have now?

I just want to hear your views.

Thanks, and keep up the great journal!
More...

Hello sktrader,

No question about it....the amount of money that even an experienced daytrader can consistently make in these market conditions in ALOT smaller than the past.

As far as daytrading goes...I am working 10 times harder and making 10 times less than I used to.

In the old days...1994 to mid 2002....I made a tremendous amount of money consistently. It ain't like that anymore. Now, we just have small periods throughout the year where cash can be made. Other than that, we just have to play it safe and grind out a little money.

When the market is conducive to making cash, I'm trading in and out ALL day long. Lately the market doesn't call for that type of trading activity. If I trade BIG volume everyday I would surely lose. So, since I have the energy, desire, and passion for the market...my swingtrading occupies my brain...with also the hopes of it being something that will generate consistent cash.

But I am in the very early stages of swingtrading. So the purpose is to test the waters. If I see that I can consistently hold my own with swingtrading, I will increase my size so my returns will be larger. But until then, I'm gonna take it slow and see how it works out.

I appreciate your thoughts and question.

Good trading to you,
gotta_trade
 
EOD: Friday, July 11, 2003




TODAY'S TRADES:

(no trades)






OPEN POSITIONS:

6/10/03......B......100 MTX @ 48.00.......+ 1.95
6/27/03......B......100 DRL @ 45.10........+ 2.75
6/27/03......B......100 ITT @ 65.00........- .32
7/02/03......B.......50 UNH @ 50.36........+ .84




Unrealized P&L................................. + $480.00

Realized P&L...(as of 6/1/03)...............+ $2,153.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,633.00
 
Nice. Enjoying your journal.

Just started my education in swing trading... my next
frontier.... so this is truly inspiring.

peace

axeman
 
EOD: Monday, July 14, 2003




TODAY'S TRADES:

(no trades)






OPEN POSITIONS:

6/10/03......B......100 MTX @ 48.00.......+ 1.90
6/27/03......B......100 DRL @ 45.10........+ 4.80
6/27/03......B......100 ITT @ 65.00........- .47
7/02/03......B.......50 UNH @ 50.36........- .51




Unrealized P&L................................. + $598.00

Realized P&L...(as of 6/1/03)...............+ $2,153.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,751.00
 
EOD: Tuesday, July 15, 2003




TODAY'S TRADES:

Sold 50 DRL 50.48 (scaling out for profit of $5.38 per share)






OPEN POSITIONS:

6/10/03......B......100 MTX @ 48.00.......+ 1.95
6/27/03......B......50 DRL @ 45.10.........+ 3.60
6/27/03......B......100 ITT @ 65.00........- .97
7/02/03......B.......50 UNH @ 50.36........- .33




Unrealized P&L................................. + $262.00

Realized P&L...(as of 6/1/03)...............+ $2,422.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,684.00
 
EOD: Wednesday, July 16, 2003




TODAY'S TRADES:

Sold 50 UNH 48.71 (sold last leg of UNH for a loss of $1.65 per share)






OPEN POSITIONS:

6/10/03......B......100 MTX @ 48.00.......+ 2.25
6/27/03......B......50 DRL @ 45.10.........+ 2.15
6/27/03......B......100 ITT @ 65.00........- 1.34





Unrealized P&L................................. + $198.00

Realized P&L...(as of 6/1/03)...............+ $2,340.00


TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,538.00
 
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