Kon's 2011 Journal

K

konviction

Last year I started my journal with 9172.90 and ended the year

with 9,534.39 .. or a gain of 361.49 (+ 3.94% ). Not exactly the

12.2% I was aiming for, but still grateful I ended the

year positive, due to my longer term holdings.

----

Changes for this year:

1. I wont be trading with indicators, I'll attempt to beat the markets with my bare hands :)

2. I wont have any % goals for this year. Whatever happens, happens. I dont want to feel pressured to meet monthly goals, as many of my trades may last a couple months, possibly longer.

---

Here are my current holdings:

2/15/10 LONG FCX from 73.78

3/10/10 LONG C from 3.97

4/8/10 added to C at 4.46

21/21/10 added more to C at 4.73

12/7/10 LONG LOW at 25.08

--------------

trades this month of Janurary:

Sold DG @ 30.39 from 30.72 (-26.50)

Sold NILE @ 57.54 from 55.11 +111.50

-----------------

My Net Liquidation value as of today is 9,607.31

let the games begin!.
 
Nile. Like DG, I had a late entry, and need to work on not getting excited. I had a chance to sell DG at the median line, but because it was going to be an "investment" like C and FCX, I didnt bother, but with NILE, it was just bad timing.
 

Attachments

LOW. Again, chasing the market, and not getting the best fill. When you over pay, you pay the consequence. Still in this trade, hopefully the stop is wide enough. However the whole point and magic of forks is that it inables a trader to have very small stops and rather large targets. My next few trades need to be better than this.
 

Attachments

Hi Kon., your very own journal!!!. Hopefully, it will help your trading with all the input that you get. I, by no means am an expert, but will give you my input where and when I see fit. Please do not take any negative comments personally, as they are not intended. Good luck and I'm glad you're here.

Quote from konviction:

LOW. Again, chasing the market, and not getting the best fill
More...
.
Need I say anything about the above statement? :p

......hopefully the stop is wide enough.
More...
Yes it is. Is that really a good thing?. (*Hourly chart) LOW has dropped below it's ~$25.00 support (tested 4-5 times!!!), has crossed below it's 200MA @ ~$24.75, is in a short-term down trend and has a decent double top that formed after which the decline came. I don't know what your holding period is, but I see some pretty good support @ ~$22.90.

If it does go to ~$23ish, that's a good $2.00 that you could have added onto your profit, if you would have come out of the trade and re-entered. The pennies really do count, as that is what will make you a successful trader.

LOW is a company with strong foundations. The numbers are strong and are getting better, so hopefully you will come out good on this.
 
Will be taking 3% risk max per trade which is 288.00 . Due to last year, I think I'll be doing things a bit differently.

I'll do my best to limit my risk to 1-1.5% for the first entry, and as the trade develops, add the other 2 to 2.5% risk. Many of my trades last year just weren't working, and I was taking a beating. Lesson learned, moving on.

---

short 480 dell @ 14.08
stops 14.29
target zone 13
 

Attachments

Interesting pattern on BA. Got a symmetrical triangle forming, which is generally a continuation pattern. If it's true that AB=CD then price should make its way to 107.33...makes paying 70.15 look cheap.


I want to buy some August calls, but I need to brush up on my option knowledge, as I forgot lots of it. I cant afford to buy shares outright.
 

Attachments

You must log in or register to reply here.
Back
Top