my day trading journal

3 trades ( 0 winners / 3 losers)

shares traded: 900

Stocks traded: JCP, NUE, AMZN



average winner: 0.0

average loser: 91.66

commission: 18

todays P/L - 293

---

as of today:

down 848.34 on 30,000 starting capital. Another typical day for

me, just throwing money away. :mad:
 
todays charts for 9/12

JCP

reason for entry: Saw a symmetrical triangle forming on my

charts, then the following breakout. The first break failed, then it

tried again and made new highs from the previous one, and on

rising volume. But for some reason the stocks momentum didnt

hold up.
 

Attachments

NUE

reason for entry: Again, here's a breakout where I bought the

top (unfortunately), but the reason I lost on this trade was

because I moved my original stop of 53.00 to 53.15. As soon as I

got stopped, the stock ran up with few pullbacks. I felt like a jack

ass on this one.
 

Attachments

AMZN

reason for entry: Like on JCP, I saw a symmectrical triangle form,

and breakout, and as usual, I bought at the very top at

88.86..the rest is history.
 

Attachments

11 trades ( 6 winners / 5 losers)

shares traded: 2,200

Stocks traded: AAPL, FSLR, GS, RIMM, SNDK, WYNN



average winner: 51.5

average loser: 29.8

commission: 66

todays P/L 94.00
 
Cash... some friendly advice.

Stop playing breakouts out of patterns and try to concentrate more immediately on price.

In fact, stop trying to trade breakouts period. I have never once met a trader who advocated playing breakouts over pullbacks. Pullbacks are easier and give you better r/w. (well ok, breakouts do WORK and some traders do prefer them, but they are definetely for more advanced traders)

Calculate your r/w before the trade using actual targets of support/resistance and define your minimum r/w levels.

I see so many juicy pullback setups in your charts and somehow you keep managing to buy the tops. There is a pattern to this. Stop repeating bad habits, you are throwing away money.
 
Just as an example.... I only trade interday but you get the jist...

IFLO for a short today. Multiple convergences with break of trend line/approach of broken support and 20/50 DMA crossover (a signal that i use but not really necessary).

Very weak candlesticks to the upside and strong to the downside. Today on the break of the low, volume picked up and I entered. Stop is 10 cents above the bar, first target is around 2-3 x my initial risk near the support depending on how fast the stock is moving.

Gl.
 
Cashmoney said "

"I cant even make a consistent 200.00 a day... wtF!?"

Who ever said day Trading was easy .

By happy if you are still doing this a year from now and actually making money.

I have been trading for 8 years, wonder why I am still in the game??

Because I have a real job :-] Actually I run a business from my home.
 
In all seriousness, do you think you deserve to be paid $200 a day to draw straight lines on a chart and notice when they've been broken? :eek:
 
Quote from kidPWRtrader:



Stop playing breakouts out of patterns and try to concentrate more immediately on price.

not sure exactly what you mean by this, but i can try.

In fact, stop trying to trade breakouts period. I have never once met a trader who advocated playing breakouts over pullbacks. Pullbacks are easier and give you better r/w.

So trade against the trend hoping for a decent size pullback?.. I've tried that many times in 2006...didn't work too well.

(well ok, breakouts do WORK and some traders do prefer them, but they are definetely for more advanced traders)

And I'm one of those traders that prefer them. What are these more advanced traders doing that I, apparently am not?. Take a look at JCP today. These powerful setups are hard to ignore. Usually I trade this stock, but today I didnt..know why?..because it never pulled back "enough" for me to want it. I kept waiting and waiting...This trade would've made my day.

Calculate your r/w before the trade using actual targets of support/resistance and define your minimum r/w levels.

I do already do this

I see so many juicy pullback setups in your charts and somehow you keep managing to buy the tops.

Its easy to see a juicy pullback after the chart is complete
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