NoDoji's Day Trading Log

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Quote from maralek:

Hello NoDoji. I just see your posts and want to ask. You said in some posts that stock is overbought or oversold. Which indicators you use during trading? Thanks.
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I use stochastics, but only used as a potential setup signal. I mainly rely on near term and long term support & resistance for confirmation of the setup signal.

The chart attached details my reasons for yesterday's ESRX trades and shows how I use stochastics effectively, and also how I sometimes ignore them altogether when Jupiter aligns with Mars in a different way.
 

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+ $322

Short URS @ 51.31, covered @ 50.92: +$151

Scalped JCG all day for +$171

Short small URS @ 52.02, overbought run up to new high, holding.

Short STEC @ 17.26 pullback from overbought run up to high, holding.

A lot of strong setups today and I hesitated. Very mad at myself for not trading aggressively.
 

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Hey NoD,

Relating to your comment about being able to easily scale in and out of positions with IB...

I use IB and have been having trouble with getting charged commision twice when scaling out of an order. What Application do you use that only charges the commission once on orders that you scale into or out of?

I appreicate the help.
 
Quote from NoDoji:

I use stochastics, but only used as a potential setup signal. I mainly rely on near term and long term support & resistance for confirmation of the setup signal.

The chart attached details my reasons for yesterday's ESRX trades and shows how I use stochastics effectively, and also how I sometimes ignore them altogether when Jupiter aligns with Mars in a different way.

Attachment: esrxchart.jpg
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Screenshot with your comments is very clear. Thanks for your patient. Can I ask you about your trades in future?
 
Quote from gobuffs422:

Hey NoD,

Relating to your comment about being able to easily scale in and out of positions with IB...

I use IB and have been having trouble with getting charged commision twice when scaling out of an order. What Application do you use that only charges the commission once on orders that you scale into or out of?

I appreicate the help.
More...

I'm charged .005 per share. Etrade charges me 5.00 each way. So with IB I can scale into a 600 share position 200 shares at a time for 1.00 each lot or 3.00. To do that with Etrade I would pay 15.00. Then another 15.00 to scale out the same way. So with IB 6.00 total commish; with Etrade 30.00.

If I plan to hold a position overnight I'll usually trade it in my Etrade account because it's not a scaled trade, but more of a small position swing trade with a single entry and exit target.
 
Quote from maralek:

Screenshot with your comments is very clear. Thanks for your patient. Can I ask you about your trades in future?
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You're welcome, and absolutely ask any time. It gets me off my lazy butt and makes me post a chart, which I can then reference later when I lose my mind and forget what's been working for me :p
 
Quote from NoDoji:

You're welcome, and absolutely ask any time. It gets me off my lazy butt and makes me post a chart, which I can then reference later when I lose my mind and forget what's been working for me :p
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Great! Sorry for my English, I'am russian and can make some mistakes. How you find stocks you trade? Do you use any filters or something else? I found that you trade most short sell and a little in a long. Can you say, why? Thanks!
 
Quote from maralek:

Great! Sorry for my English, I'am russian and can make some mistakes. How you find stocks you trade? Do you use any filters or something else? I found that you trade most short sell and a little in a long. Can you say, why? Thanks!
More...

I look for stocks hitting the high/low ticker hard. These tend to exhaust and pullback (highs) or bounce (lows) quickly.
 
Quote from NoDoji:

I look for stocks hitting the high/low ticker hard. These tend to exhaust and pullback (highs) or bounce (lows) quickly.
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Why you don't buy stocks and olny ss them?
 
Nod

Your last post suggests you are a scalper and not a trend trader or a breakout trader. Not saying that is bad as long as you are booking some cash. Just wanted to point out that out to you because you have in the past said you leave to many profits on the table.

Think about stocs, they are NOT for trend trading, you use them for what they are............short term scalps.

In order to catch the bigger "RUNS" you will need to change a few items. Hope this helps you see the difference between scalping and trend trades. They are different animals.

Have a good day.

PS: You said you fade new highs, etc ...........breakout traders look for continuations............big difference. :)
 
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