NoDoji's Day Trading Log

[NoDoji]

+ $328

Traded way less than intended due to being too slow to pull the trigger again. It’s like the minute I’m ready to go the price moves quickly in my favor and then I don’t want to chase. I do better when I anticipate, but then it’s always scarier because the price generally moves against me before turning. However, that seems to be the only way I get in the trade. And since not one of my intended trades all week would have gone against me, I should certainly feel confident in my judgment by now!

Shorted BIIB @ 46.42 when it broke through secondary resistance, but experienced a serious failure to test the HOD. I exited at 46.22 for a $100 gain when the stochastic pivoted.

Shorted PPL @ 31.94 after it hit the high ticker all day, and finally weakened. It ranged and ranged and my ADD self got tired of babysitting the trade and covered at 31.90 for a whopping $20 gain, only to have it drop right through my initially desired price of 31.74 exactly 30 seconds after I covered. I am not making this up.

After missing many entries all day, I finally welcomed that afternoon pull back as it presented me with an opportunity to go long BNI @ 79.82 not far from the LOD. I did not dally this time; I jumped right in and it went against me, broke down the LOD, but I wasn’t worried yet as long there was a bounce off that new low. The bounce was perfect and I exited @ 80.32, catching a good chunk of the move for a very quick $250 gain. It pulled back again and I was sure it would retest that 79.50 low, so I bid 79.51, missed by .03 cents unfortunately because an even stronger rally ensued. I plan to trade this one again as it had a massive selloff recently and I like trading stocks near major support/resistance levels.

The afternoon selloff also presented an opportunity to put on some DRYS Dec $15 calls (immediately profitable) to enjoy after the fund liquidation is finally over (November 15th is the drop dead date I’ve been told).

This week netted me $1143 despite missing dozens of entries. The fact that I had something like 12 out of 13 winning trades paints the picture of how conservative I've been. I've also been trading smaller share lots than I used to. I may trade a bit larger next week, especially on my higher probability trades.

No chart today, because it was the same ole' same old: bought low, sold high

 

[NoDoji]

+ $743

Closed DRYS calls this morning when they failed to break the opening high for a $600 gain. Put on the same position again later in the day when the price dropped back in the 13 range.

Shorted BIIB @ 47.26 when overbought stochastic indicated there would be a failure to test the previous resistance of 47.58. Covered @ 47.06 based on stochastic oversold condition.

Watching SPWRA and missed a couple long entries. I kept my order active expecting a pullback, which got filled @ 32.50. The price rose to 32.89 and I should’ve taken profits and re-traded later, but I initially went in looking for a larger move so I held through all the day’s ranging around and finally set a target at 32.70 when it appeared there would be no retracement to 33 as I had hoped. At the very end of the day my target was touched for a partial fill, then again for the rest of it. Only a $100 gain, when I could’ve taken $150 early, then another couple hundred later.

Saw MFE hit the high ticker and watched for failure to make a new high after the pull back. I was just about to short, but saw the stochastics way oversold after the pullback, so I expected a more sincere attempt to test the HOD, but no it just tanked an entire $1/share and I smacked myself for not trading the minute I thought about it.

 

[NoDoji]

+ $321

Shorted DVA this morning on the second overbought stochastic when it stalled near the previous resistance @ 53.00. I had a chance to take a quick $100 but it looked like it would drop significantly more. It did not, instead rallying to the HOD, where I awaited my fate. Fortunately it hit its head at the HOD and dropped. I covered @ 52.94 for a $30 gain when it was quite oversold and stalled a bit, but it did end up dropping quite a bit more.

Traded CLF to the long side all day, buying the dips and taking profits on small moves. I exited the trade that bounced off the first LOD way too early, but every CLF was a winner for total gain of $325.

I was busy with CLF and missed an SPWRA long I was shooting for midday. So at the very end of day when SPWRA bounced off new lows, I went long at 28.79 and closed out at 28.89 for a $50 gain.

 

[NoDoji]

- $97

Way too slow on the draw today, missing some great early action. Bought SPWRA @ 25.05 upon failure to make a new low and stochastic oversold condition. Closed out @ 25.34 for a $145 gain.

Bought CLF @ 19.95 when it established strength around the 19.90 support level and was oversold. Closed the position @ 20.19 when overbought for a $120 gain.

Bought CLF again @ 19.72 when it dropped close to the LOD and held up at that price. No sooner was my order filled when the price jumped to 19.91 and dropped right back to my price. It was a 100-share lot on the time/sales screen that did it, not on the Level II or in the bid/ask. I had seen that happen before and forgot what it meant. CLF hovered around my price for a while then pulled back a bit and did another one of those jumps, then dropped more, then rebounded. It suddenly struck me that these random 100-share lots that get printed off the grid usually mean the price is going to drop. I should have just exited right there, but the stochastics were still in the “up” position. However, as soon as the stochs crossed down, there was a hard selloff and I exited at market for a $320 loss. It continued to drop to 18.16 and bounced a tiny bit, then pulled back. I placed an order at 18.17 figuring I’d get a test just above the LOD, but it only went to 18.19 before rebounding very nicely, so I missed that last trade.

Since my expected profit on the second CLF trade was a around $150, I should've exited the trade immediately when it broke through 19.50.

 

[NoDoji]

- $146

This should have been my best day ever and it sucked, though I'm very pleased with my discipline in exiting trades that went against me.

I went long PBR @ 21.36 when it seemed to stall and turn upward after dropping all morning. It ended up dropping further and I exited for a $100 loss. (Should've watched for re-entry.)

Bought CLF in an oversold condition @ 18.10. It pulled back a bit more then resumed the uptrend. I exited at 18.28 for a $90 gain when it seemed to stall, but heck no it had another $1500 worth of steam in it today had I placed a stop a b/e and let the profits ride.

After ISRG tanked and leveled out, I placed an order at 145.50 and it dropped to 145.51 before rallying the rest of the day and I have no idea why I didn’t just jump in and enjoy any part of that ride.

Tried to short WTR and just as I placed my order it tanked, missing me.

Late in the day, short CAL when it re-tested 12.03 and seemed to stall there. It rallied pretty hard and I exited at 12.23 for a $100 loss.

 

[NoDoji]

- $26

Bought ISRG when it failed to make a new low and I hoped to catch about a $1 move off 155.00. It hit 155.21 and reversed. The moment the stochastic crossed down I exited at market for a $192 loss. If I had patiently watched the chart I could’ve later caught a nice long move off the round number 150. ISRG closed close to its major support level, so I’ll be watching this one for a solid bounce.

Shorted WTR @ 20.19. It rallied a tiny bit, then pulled back to 20.02, but looked like it had further to fall. I could’ve traded this one several times for small moves, but I stupidly held it through four more rallies and pullbacks and finally covered @ 20.13 for 65 gain.

I later shorted WTR again at 20.49 after it hit its head pretty good against that level. It dropped nicely but I really thought it had a long way to fall after this. It rallied a bit, then dropped again and I covered @ 20.35 for a $142.50 gain. I should’ve trusted my instincts on this one, because it eventually dropped below 19.50.

Tried to short MA, but didn’t get in on time for the nice drop. I’ll keep working on this one, as it’s a nice stock to trade for quick moves.

 

[NoDoji]

+ $346

Started the day watching AAPL, hoping for a test of the 86's, but it ended up bouncing off the 87's. Was looking to trade $90 calls, but my desired price was never reached.

Placed short offer on WTR for 20.03 as it pivoted from overbought condition @ 20.05. Was a bit late on the draw and missed the fill, but it bounced off 19.84 and came back for a partial fill. I cancelled the remaining shares because at this point it had made a much higher low before bouncing and I felt it had become strong. I covered at market quickly for an $88 gain just before it rallied hard to 20.42. I placed short offers at each of the three overbought points starting with the HOD of 20.42. Each one was missed by pennies. I was certain I had picked good points that would be reached, but again too conservative.

Saw APOL hitting the high ticker and shorted it at 70.02. It hung around that level for a while, then spiked down, then bounced, so I placed a target cover at 69.62 because I wanted to take profits on any second test of that 69.57 spike down, as I never traded APOL before and had no idea how it would act. Got filled for a $200 gain.

AngryHermit in chat brought to our attention that LOW had established a stubborn resistance @ 20.00 and I believe everybody shorted it around 19.95. I placed a target cover @ 19.75 which got filled for a $100 gain on a nice little spike down. We all regretted not holding through the end of day drop to 19.00.

 

[NoDoji]

+ $137

Shorted WTR @ 20.05 on overbought stochastic and placed a target cover @ 19.95.. It rose a bit, then dropped to my target but only gave a partial fill before bouncing hard. I added to the short @ 20.32 for average price of 20.19 and set a target @ 20.15, which was filled, leaving money all over the table as it dropped all the rest of the morning and into the afternoon.

Shorted WTR again later @ 20.05 and covered @ 19.97 when it bounced rather than falling further.

Shorted again toward end of day and holding overnight.

 

[NoDoji]

- $20

I had an overnight WTR short and instead of adding to the position at 21.00 this morning I had a target cover in place and forgot about it. Really stupid move on my part as I could've taken large profits early on, several times over.

I missed so many entries today it wasn't funny. I finally got a good one in with WTR short later in the day by getting on the run up. So I didn't pick the top, but damn I got the fill and a quick $200 profit.

Went long both SPWRA and AAPL on failures to make new lows, and placed tight stops. Both got triggered for losses.

Bought some SPY very end of day. Never traded SPY before, but what the heck 81.00 seemed like a reasonable price.

The market should go back up some day.

Maybe...


:eek:

 

[NoDoji]

+ $247

My little overnight SPY trade stopped out for a $140 loss (Should've grabbed my $60 profit before the close yesterday.)

I then missed a good portion of the trading morning due to a long appointment.

Got back and shorted WTR rallies. Missed several entries, but got some others by being proactive.

Tried to go long IBM at the end of day sell off with an offer for 70.50 and it hit 70.51 and bounced too fast for me to chase, especially with a market on close sell imbalance.