NoDoji's Day Trading Log

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$347

Placed a limit to short MYGN @ 87.50, but it kept topping and dropping from 86.80-ish, and I regret being conservative and not playing off that resistance level.

Began another HOTT short @ 9.20. Was extremely tempted to add to the position @ 9.10 when it dropped to 8.99, then bounced and languished there, but I was patient in case it broke to the upside to retest HOD, which HOTT can do quite easily. Later offered 9.15 to add to the position, and it was touched, but no fill for me. Covered @ 8.99 when it bounced off yesterday’s close four times.

Hesitated to short RE @ 73.30 and it was my much bigger regret of the day.

Saw AIPC hit the hi ticker and it had just made a strong run with a big green marubozu bar showing on the 3-min chart. Shorted thru IB @ 31.54 overbought (no shares available via Etrade). Covered @ 31.24 oversold pivot for a $150 gain.

Offered 9.15 HOTT half the day. Finally end of day 200 of 1000 shares filled before it pulled back, so I completed the order at market for an average price of 9.10.

I was extremely disappointed with myself today for not aggressively trading my signals. I need to make sure this doesn't become an ongoing problem. January was a strong month for me and I realized I was using mainly market order entries instead of limits. There's upside and downside to that, but these near misses on fills are costly to me.
 

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Quote from NoDoji:


I was extremely disappointed with myself today for not aggressively trading my signals. I need to make sure this doesn't become an ongoing problem.
More...

Sounds like I have the same problem...in a more pronounced form.

You constantly stay green, despite your little issues here and there - that's what impresses me the most. I try not get shaken up by a bad loss here and there, but it's tough work. Very tough.

I'll see you in chat tomorrow! :cool:
 
2/19/09:
Now I'm starting to think USO might be alittle froggy in the a.m.
Looking to scalp it long, thanks for the heads up.
 
Quote from geez:

2/19/09:
Now I'm starting to think USO might be alittle froggy in the a.m.
Looking to scalp it long, thanks for the heads up.
More...

I'm with you on that. I really need at least one long trade a month, don't you think :D
 
hi nodoji

i read this somewhere; to ask yourself the following questions to avoid missing opportunities:

where is the price?

what is it doing there?

is it at an optimal/ideal location level? (your setup)

how can i get involved?

answering these questions should reduce hesitation cause either you have a trade or you dont and if you do then it will creat eagerness to put in the order. its good to write these questions for each trade then it will cause you to spend some time with the stock instead of doing it mentally. if doing it mentally there is a tendency to flip to other charts in my case.

you are doing great; dont be so hard on yourself you are bringing in the dough at the end of the day. that should make you happy. a little daily dose of happiness is a blessing.
 
Quote from elit5314:

hi nodoji

i read this somewhere; to ask yourself the following questions to avoid missing opportunities:

where is the price?

what is it doing there?

is it at an optimal/ideal location level? (your setup)

how can i get involved?

answering these questions should reduce hesitation cause either you have a trade or you dont and if you do then it will creat eagerness to put in the order. its good to write these questions for each trade then it will cause you to spend some time with the stock instead of doing it mentally. if doing it mentally there is a tendency to flip to other charts in my case.

you are doing great; dont be so hard on yourself you are bringing in the dough at the end of the day. that should make you happy. a little daily dose of happiness is a blessing.
More...

That's funny you post this, because I decided last night to start asking myself similar questions out loud for the same reason: If my answers are in alignment with taking the trade I can hear out loud that there is no excuse to wait for anything further to transpire!
 
+ $609

Offered 9.25 HOTT and it finally filled after several touches for an average price of 9.17 combined with yesterday’s short at the close. Turned out 9.25 was the HOD, which made me very happy. I had a cover target of 8.99 which was touched but no fill (as soon as my shares showed, the Ask went up). I should’ve exited near that level (it was highly oversold) and re-shorted it. Very lazy trading on my part. Later, I placed new target via ARCA @ 9.02, because everyone and their grandmother was parked at 9.01, and 9.02 was previous support. Got a very gradual fill over a 20-minute period for a $310 gain.

Short DRI @ 28.53, overbought on a quick run up on low volume. Covered @ 28.21 for a $160 gain. I covered because the stochastics had entered oversold territory, but I failed to wait for the stochastic pivot, which is what I normally do. My second failure was to tell someone in chat that DRI was a great short anywhere above 28.00, then fail to re-short it again there.

RE hits the hi ticker big time and I’m about to short, deciding market or limit (there’s a bit of spread) and it drops 1.00 share in front of my eyes! Damn, you gotta be fast at this game! Pull up a 3-min chart at 12:21 ET, what a move!

Short AIPC @ 31.98, overbought bounce off lows, looking to add above HOD, or take profits on retracement to oversold. Target of 31.78 hit and 2K shares went off, but no fill for me. Covered later @ 31.79 for a $188 gain.

Offered 9.10 HOTT and missed the fill by .02 cents and it dropped like a rock to break down the LOD. Oh well, can’t get them all.

Short ORLY @ 33.00 on overbought run up and failure to make a new high, and used a damn market order this time! Chose to hold overnight for a larger move, instead of taking profits at oversold. That would be a larger move in my favor, of course. :eek:

Placed limit order to short AIPC @ 32.20 and missed the fill as it touched and then went into freefall to 31.19! Check out the attached chart. Placed offer again on the end-of-day bounce, filled @ 32.20, holding.
 

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+ $963 Day
+ $2861 Week
+ $5302 Month

Covered ORLY @ 32.11 on oversold pivot from 32.00 for a $445 gain.

When I read last night that Cramer was pumping AIPC on Mad Money, I felt very good about putting on another short position late yesterday. This morning I saw AIPC print at my target price on my Etrade platform, but later when my husband got up and checked IB, it had only filled 190 shares at my target (which turned out to be the exact LOD), then it bounced to new highs. I was about to say to my husband, “Short more” and it drops .70 cents a share in front of my eyes. Later it drops over .50 cents a share and I covered most of the remaining shares. Finally late in the day finished the fill for a $359 gain. This whole trade would’ve actually been two profitable trades had I been managing it directly from IB instead of through a 3rd party, but I won’t complain too much!

Offered 9.05 HOTT and it only made it to 9.04. The volume was anemic so I didn’t chase it with a market order. Offered 9.01 on the afternoon bounce, missed that one by .05 cents.

Short ORLY @ 32.46 when it appeared to weaken after a very strong bounce, but it only dipped a bit more before resuming the uptrend, testing yesterday’s high and failing to stage a solid break out. I failed to short more at the HOD, sadly. However, I did cover my small position later in the day @ 32.25 pivot off oversold for a $107 gain.

Short ORLY @ 32.49, overbought, covered 32.30 on oversold stochastic pivot for a $92 gain.

Short ORLY @ 32.50. Vacillated on whether to take $50 profit or hold for Monday morning volatility play again and decided to hold, since it’s trading so close to its 52-week high on a huge rise off a huge gap.
 

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just when I think I had an excellent day & week you & bob always have to ruin it on me!

on second thought I'm not going to wire you that $25k anymore :D

Good week! Take Monday off!
 
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