NoDoji's Day Trading Log

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Here's my trading station, which I posted yesterday on the trading station thread. The keyboard is an original IBM Model M born on August 21, 1986 and heavy as a watermelon :cool:
 

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Oh, and I have to admit - nice setup!

I have a slow desktop and a fast laptop and the way they are set up in my room, I have to constanly move my head. I need a fast desktop with 3 monitors instead. Laptop could act as a backup, just in case.
 
Quote from BostonKiller:

OK, both of you are crappy traders! :p
Now quick, say something mean about me! :D
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It's a lot more than your desktop that's slow, Bos. And if you'd quit turning your head, you might manage to see a profitable setup and actually trade it!

(I think we need to open a separate thread in the Psychology forum to help polarity responders like us. It could be entitiled simply "Why Your Trading Sucks")
 
NoD that was a good one to Bos...

Love those old IBM keyboards and the clicking noise the keys make when you type.

(knocks on wood) i'm on a role trading of late so please don't try any of your bi-polar karma on me :)
 
Quote from NoDoji:

Here's my trading station, which I posted yesterday on the trading station thread. The keyboard is an original IBM Model M born on August 21, 1986 and heavy as a watermelon :cool:
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I can clearly see you need more monitors. you cant trade without at least six and eight is much better.

Plus those are not widescreens. you cant make profits with standard monitors as the stocks will not go your way without widescreens. find something to raise those monitors up so that your head is not pointed down all day. when you look at a double stack of monitors you should be able to look right at the top of the botttom screen with your head level so that you have to look up when looking at the top one.

Bad chair also, no good for the back. get yourself a good $600 chair and your back will feel better and you will also want to make more money because you where crazy enough to spend $600 on a chair and need to get it back.

You also need more paper lying uselessly around the desk. You cant make money trading unless you have paper with three week old writtings about symbols that you have long forgotten about. Get some useless paper right away.

Ok, good trading today. keep up the good work
 
Quote from Robert Weinstein:

I can clearly see you need more monitors. you cant trade without at least six and eight is much better.
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I agree. The ONLY difference between your daily profit and mine is the sheer lack of monitors with which I am forced to contend.

Quote from Robert Weinstein:

Bad chair also, no good for the back. get yourself a good $600 chair and your back will feel better and you will also want to make more money because you where crazy enough to spend $600 on a chair and need to get it back.
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I have to disagree here. A $600 chair expense can be recouped with a single solid trade, whereas the ongoing chiropractic and massage therapy expenses associated with a bad chair ensure that I will never become complacent as a trader.

Quote from Robert Weinstein:

You also need more paper lying uselessly around the desk. You cant make money trading unless you have paper with three week old writtings about symbols that you have long forgotten about. Get some useless paper right away.
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(Shhhh...I "cleaned up" to make it look as if I am a bright, organized, focused trader who never for a single moment stared in perplexity for 20 minutes at a note that said, "Kiva reverse 9.00 narrow range". A more realistic view of my desk is attached.)
 

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NoD... I like what I see... 4 pieces of paper don't add up to a mess though...

Tomorrow I'm going to take a photo of my desk versus our Quant guy's desk... his desk is "clean"

you are only allowed to trade these on the condition that you make money :)
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insidenodojishead.jpg
 
Quote from NoDoji:

I keep missing the big picture on my profitable trades, yet have been willing to hold for the big picture when a trade I believe in runs against me.

Short HOTT thru IB @ average price of 9.66 (limit order filled partially, then the rest at a lower price, very odd; Etrade never does that).

I spent a lot time observing chart action in the afternoon and it struck me how important it is to trade with the market. Today, no matter how low the stocks on my watch list went, they were still shortable at the next overbought “rally”. On up days, no matter how high they go, they are still good for a long on any oversold dips, as long as the trend line remains intact. Today I hesitated to short many times because it was later in the day and the price had already dropped a lot, yet every single setup would’ve been very profitable. I’ve posted a chart of IDCC to show this.
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NoD,
Several things.

1) I am jealous of your keyboard. It would feel really good to enter orders on that thing. REAL GOOD.

2) Missing the big picture, or getting the big picture, seems to be relevant and irrelevant at the same time. Say you have the big picture, but you don't act on it. Now, say you don't have the big picture, but you do act "correctly" on whatever picture you do have. Isn't that better than the 1st? By correctly I mean discipline, honesty regarding the situation you find yourself in (CECO for you, PNC for me). Etc... Do you see what I'm getting at?

3) E-trade won't partial fill you b/c its not direct access and they trade against their customers, e-trade sells your order to a 3rd party, which is why you get the full fill -- always.

4) Yes, following the market on days like today pays. I too hesitated on some signals to the short side today, same rationale as you, most which ended up falling past my expectations without me.

5) What does that advice say on the wall?

6) Last thing, how on Earth are you able to see and judge price action when your price history is crammed into a tiny pane there, practically a horizontal line?

_mad
 
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