NoDoji's Day Trading Log

Status
Not open for further replies.
- $1247

Shorted PSS @ 17.77 on stochastic overbought and covered on oversold @ 17.55 for a very quick $440 gain.

Later bought AAPL calls and set a very tight limit order for an expected profit of $300 (it was a later day range trade and I didn’t want to be too ambitious in my expectations). I saw my order status screen light up with the fill and a little while later noticed my P&L number wasn’t as high as it should’ve been with that trade. Checked the order status and saw only 6 of 14 contracts were filled! AAPL and the market were now in freefall, so I quickly exited the remaining position for a $1680 loss. This is the second time in two months that I was unaware of a partial fill. I will never overlook that again!
 

Attachments

- $422

Only did one trade today, had computer problems and was afraid to trade the usual fast movers as a result.

Bought APWR on a failure to make a new low, but stupidly ignored the fact the stochastic was overbought at the time. Computer died after the trade, then I got everything back up and set a stop at the LOD, which eventually hit for the loss.
 
+ $280

I had PSS puts from last week I had forgotten about and the limit triggered for a $100 gain. Bought SHLD puts during the rally on some hedge fund manager being bullish on the stock.

Bought V @ 67.99 on an oversold stochastic, but missed the selling pressure that was still on and exited @ 67.28 for the loss to await a better entry, which came on the next oversold stochastic with buying pressure. Entered @ 66.90 and exited on overbought indicator @ 67.40.

I’m planning to trade AAPL exclusively tomorrow and see how that goes. I miss a lot good entries by watching too many charts, so I think focusing on one stock will be beneficial, as it worked for V when I stayed focused on it.
 
- 18,060

Came back from an appt to find steel downgraded again, specifically STLD. I had a large option position (too large) and could not risk any more of it in this market.

There was a point a while back when this position was near b/e and I did not feel good about the chart, yet I held on. The lesson here is to limit risk, trust your intuition and set tight stops. I'm amazed at how I can make th4 same mistakes again and again.

Didn't catch any trades other than this today as I was out of the office a good part of the day.
 
+ $143

I was excited to trade this morning because all day yesterday I continued to study stochastics and narrowed my best indicator down to a very specific pattern, and how it worked under a variety of conditions (bad and good, since yesterday was the day for that). So what do I do this morning? I impatiently jump the gun, put on a RIMM long before getting the indicator I had pegged after yesterday’s research and end up exiting the trade at a $807 loss, as my indicator indicated nothing good ahead. Indicator was very right, and I was glad to make a disciplined exit.

Had I waited for the true signal, I would’ve pocketed a small profit. IMPORTANT: Going long for bounces in down markets is good only for small profits; take them and move on. Focus on shorts in the down market, unless playing a bounce off panic into major support. (Watched MA carefully for this intending to trade it, then grabbed some lunch and came back to find I missed the 189-197 bounce!)

Yesterday I had an offer in for SHLD Oct $95 puts that never filled. Put in another offer today, which got filled during what could only be explained as a short squeeze (spike to 105), because this company has no fundamentals whatsoever. I set an initial target profit of $1/share and it looked like it would be hit, but not really go lower. However, as my target drew near I thought I’d move it up because suddenly the buying volume seemed dry. No sooner did this thought cross my mind, the limit order was filled for a $1000 gain. The bid/ask spread is quite wide on these options so you really don’t know when you’re going to get a fill on limit orders. Left money all over the table with this one. :mad:
 

Attachments

Quote from NoDoji:

+ $143

I was excited to trade this morning because all day yesterday I continued to study stochastics and narrowed my best indicator down to a very specific pattern, and how it worked under a variety of conditions (bad and good, since yesterday was the day for that). So what do I do this morning? I impatiently jump the gun, put on a RIMM long before getting the indicator I had pegged after yesterday’s research and end up exiting the trade at a $807 loss, as my indicator indicated nothing good ahead. Indicator was very right, and I was glad to make a disciplined exit.

Had I waited for the true signal, I would’ve pocketed a small profit. IMPORTANT: Going long for bounces in down markets is good only for small profits; take them and move on. Focus on shorts in the down market, unless playing a bounce off panic into major support. (Watched MA carefully for this intending to trade it, then grabbed some lunch and came back to find I missed the 189-197 bounce!)

Yesterday I had an offer in for SHLD Oct $95 puts that never filled. Put in another offer today, which got filled during what could only be explained as a short squeeze (spike to 105), because this company has no fundamentals whatsoever. I set an initial target profit of $1/share and it looked like it would be hit, but not really go lower. However, as my target drew near I thought I’d move it up because suddenly the buying volume seemed dry. No sooner did this thought cross my mind, the limit order was filled for a $1000 gain. The bid/ask spread is quite wide on these options so you really don’t know when you’re going to get a fill on limit orders. Left money all over the table with this one. :mad:
More...


Hi NoDoji,

Your pesky friend from chat is back. Glad to see you understood your mistake and got out of the trade. Also contrats on the second trade kinda.

I say kinda because of the size of the trade. If there is someone who understands the pain of being too large in a trade its me right now.

I really believe that you should focus on learning as cheap as you can.

ok, I am done. Glad to see you made money !!
 
Status
Not open for further replies.
Back
Top