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Monkman's trading journal
- Thread starter Monkman
- Start date
My lists are categorized into four sections. The numbers 7,1,0 do not necessarily reflect the scores in the Jack Hershey cycle. I interpret these numbers as follows. 7 - recent break out, 1 - volume starting to dry up, 0 - Price has settled and volume has decreased. For anyone that is reading this I suggest you organize your list based on what works best for you.
- Monkman
- Monkman
Today was a very bloody day. We had some carry over from yesterday and then the hurricane hit.
Went long on 3 stocks and sold all three the same day. This is very unusual for every single play to fail.
NGA (14.13) - 2.34%
GROW (23.58) -2.67%
SYNL (40.99) -5.78%
NGA had a solid breakout, was one of the strongest stocks on my list along with NFI. But as we can see even the strongest stocks can fail, and we saw that as the day went on. GROW, just barely hit FRV, previous days volume was really light so I thought it might start to make a powerful move toward the end of the day. SYNL, as it got near my 2% stop loss , the DOW was down triple digits at this point. I to give this a little more room and hold until resistance was broken.
Today was not a fun day, but a meaningful one. 2 of the 3 stocks I kept my looses small, and the third I let it run more than I had wanted, but its no big deal. Days were all my plays fail have been really rare in the past. Keeping looses as small as possible will allow me to offset them in the coming future.
Here is tomorrows hotlist:
Group 7
NFI
Group 1
SYX
LEND
DRYS
Group 0
CECE
IIG
GROW
MTOX
NCTY
ININ
Pitch
ROCM
FRG - S
SNCR - S
Went long on 3 stocks and sold all three the same day. This is very unusual for every single play to fail.
NGA (14.13) - 2.34%
GROW (23.58) -2.67%
SYNL (40.99) -5.78%
NGA had a solid breakout, was one of the strongest stocks on my list along with NFI. But as we can see even the strongest stocks can fail, and we saw that as the day went on. GROW, just barely hit FRV, previous days volume was really light so I thought it might start to make a powerful move toward the end of the day. SYNL, as it got near my 2% stop loss , the DOW was down triple digits at this point. I to give this a little more room and hold until resistance was broken.
Today was not a fun day, but a meaningful one. 2 of the 3 stocks I kept my looses small, and the third I let it run more than I had wanted, but its no big deal. Days were all my plays fail have been really rare in the past. Keeping looses as small as possible will allow me to offset them in the coming future.
Here is tomorrows hotlist:
Group 7
NFI
Group 1
SYX
LEND
DRYS
Group 0
CECE
IIG
GROW
MTOX
NCTY
ININ
Pitch
ROCM
FRG - S
SNCR - S
JDSA long 18.09 (-1.82%)
GROW long 23.81 (.59%)
GROW long 23.85 (.71%)
GROW long 24.2 (.08%)
Made a lot of little trades. JDSA bought but no price improvement, and it hit my 2% mark so I cut my losses.
GROW broke out today and went into FRV. I first picked it up at 21.81. It started to lift up rapidly and then began to pull back two hours into the day. Stoh on the 30min started to go below 75. At 11:30 and 11:45 on the 15min I saw increasing red volume. At this point I was thinking hold and potentially loose profit or raise stop and lock in profits. I am trying to be as careful as possible at this point, shifting to lower risk while taking less profit. I figured that I can always get back in if I made a mistake. Last Wednesday, I had an unrealized gain on NGA, and then had to turn around and sell it for a loss. At this point when stocks go up I will at all cost protect profits to try to avoid a loss, and then re buy if needed.
Right now I am going to concentrate on three things when entering a stock:
1. Price improvement
2. Slow Stoh going above 80
3. MACD positive
I am going to take a deep breath, and step back to the basics. Stocks I will be buying must be in dry up the day before. To me this means two things:
1. It ends the previous day below .60
2. If you eyeball the chart you can see an increasing to decreasing gaussian formation that appears to dry up on its second half.
GROW long 23.81 (.59%)
GROW long 23.85 (.71%)
GROW long 24.2 (.08%)
Made a lot of little trades. JDSA bought but no price improvement, and it hit my 2% mark so I cut my losses.
GROW broke out today and went into FRV. I first picked it up at 21.81. It started to lift up rapidly and then began to pull back two hours into the day. Stoh on the 30min started to go below 75. At 11:30 and 11:45 on the 15min I saw increasing red volume. At this point I was thinking hold and potentially loose profit or raise stop and lock in profits. I am trying to be as careful as possible at this point, shifting to lower risk while taking less profit. I figured that I can always get back in if I made a mistake. Last Wednesday, I had an unrealized gain on NGA, and then had to turn around and sell it for a loss. At this point when stocks go up I will at all cost protect profits to try to avoid a loss, and then re buy if needed.
Right now I am going to concentrate on three things when entering a stock:
1. Price improvement
2. Slow Stoh going above 80
3. MACD positive
I am going to take a deep breath, and step back to the basics. Stocks I will be buying must be in dry up the day before. To me this means two things:
1. It ends the previous day below .60
2. If you eyeball the chart you can see an increasing to decreasing gaussian formation that appears to dry up on its second half.
Quote from Pr0crast:
Why did you sell GROW? Looks pretty strong on the chart.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1496235">
I agree GROW looks great. In hindsight I should have held through, but I saw some things on the 15min that were of a concern, and after taking a loss on JDSA I did not want any further losses for the day.
Hindsight chart:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1497020>