November Trading Journals

Very good day for the firm but just average for me as I went very light and left early to ctown with Mrs F. to run some errands. It is ironic how the firm's numbers are sooooooo much better than that super rally Tuesday. I am very concerned about the energy sector destruction, would be awful if this thing returns to summer levels and that would kill those sectors for traders.

3700 shares on 3 of 6 shooting, +625 before commissions, +536 after, finished first half of the month with 3200 which is not spectacular by any means, but acceptable. Hopefully I will pick up the pace a little in second half.

Pre-Market: OPEC will not cut, bullet did not go through off the open meaning no energy shorts for me.

9:30: Mr. M passed me a lay-up on IUX and I took some CB for a quick 50 cents move, futures came in and I headed for the doors, he held and ran up another half a point. No bullets and I was about to scream when futures came in, fortunately it ran up and I took some MRX on DRG strength after he printed incredible size at 56, stopped out for flat as it stalled (then broke down).

10:06: Took FMC on CEX rebound for a 30 cents move, weak stock. Tried ROH and lost 10 cents. However, I anticipated a breakout on futures and I hit a huge shot on TYC with 1000 shares, as I pared out half for a quarter and the rest for the full 70 cents move. Futures turned choppy and I decided to take a walk, and decided the day was ok and given the last day of the pay period I had no desire to trade the afternoon.
 
Some nice trading there Hitman... sector follow through is picking up and is making consistently profitable intraday trading a viable proposition again (for those with discipline).
 
A brutal morning turned into a day that tied my best effort of the month. Around 10:50 there was a guy who I met through Elite Trader walking into my office and I showed him my set-up, (I was watching the energy indexes so closely that I forgot to get his name lol, I even forgot to give him my card, ouch) at the time I was up $22,

Balanced scoring today as I could not miss after the open, despite of the fact that I did not have a single winner above $200, it didn't matter, although I wish I went more size as I would have most definitely got my first appearence on firm's top 30 list. 11900 shares on 12 of 14 shooting, +1601 before commissions, +1121 after, 3 bullets. Swept the week 5 and 0 and up 3200.

Pre-Market: A bunch of financial downgrades.

9:30: Bulleted a little LM and scored a quarter on XBD sell-off. BSC bullet too as I scored a quarter. Took a little EOG as I thought the energy will bounce, lost a fast 12 cents there. Bulleted PRE and out for flat as it ended up being the strongest stock in the entire IUX. Churned a little bit on BSC and LM bullets.

9:56: Some rumor came out on Osama Bin Laden's death, immediately futures ticked up a little and I bought some TXN and NSM, got a quarter off NSM but churned away a quarter on TXN as it hit a new low. Churned both stocks some more as I realized it wasn't going to be a rally.

10:50: The guy is in my office and I was up $22, and I showed him my P&L anyway, but as I talked to him about his situation I started to pay attention to the tape action of energy stocks. Just seemed like no real seller left. I threw a couple of hundred shares into stocks like BHI, BR and EOG, kept on talking to him but ended up sending him up to our management office. Both Mrs F and Mr M were having a tough day, it really felt like last Friday when the squad was smoked throughly.

11:40: Energy finally broke out, I started paring in and out of stuff, I scored anywhere between 30-50 cents on BHI, BR, EOG, NE, DO, EPG, KMG, SGY, but with 300-600 positions it weren't as sweet as it would have been. I literally traded the whole index but with insufficient size in individual positions, I was able to hold the point today as F and M pulled out of their morning shooting woes and had solid games with this energy run. Mrs F even took the afternoon leg on energy and I missed it completely.

2:00: After a great lunch at one of the local pizza shops with F, M, S, all four of us up nicely on the day, took some dime scalps on LM bullet, tried to short PRE but flipped it when I realized how strong he was, scored another 30 cents there, final hour rally took AA for a dime scalp. Just icing on the cake as I saw no reason to take big positions.

My best week in a while, but I look to step it up just a little more, especially in the size department, strength and courage, may the dream come true, it can't rain, all the times . . .
 
Hitman,

Gotta agree with Dustin, to have made more than a grand on Friday was some good trading. And 5 wins out of 5 this past narrow-range choppy week was exceptional.
 
Do you trade for Generic? I know similar situations occured there the last trading day of September.

Regardless, down the road you'll see that day was a great learning experience.

You have to lose a few thousand in the beginning to make the many thousands and hopefully millions down the road!

Good luck!
 
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