Wow, company selling shares into the pop... that instills confidence. I kept an eye on it today but didn't take a trade. Unfortunately I only trade intra-day and can't take advantage of any of these gaps.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
PropTrader - Daily exploits
- Thread starter PropTraderMTL
- Start date
Wow, company selling shares into the pop... that instills confidence. I kept an eye on it today but didn't take a trade. Unfortunately I only trade intra-day and can't take advantage of any of these gaps.
Quote from PropTraderMTL:
Caught a good short on C in the morning, up $300. That's probably when I should have left.
Frustrating. It seems if your in the $$ at any point in a trade... GET OUT! Because the HFT will bring it all the way back.
I'm going to stick to 2-5 good setups tomorrow and ignore everything else. I'm also going to be taking half out when in the $$ instead of trying for a bigger trade. Trading sucks when your losing!
Date: 23/03/2011
Net P&L: ($420)
Month Balance: ($3,720)
Hang in there, today's intraday surge was Uncle Ben's "POMO" (Permanent Open Market Operations). A few billion pumped into the markets here and there, no big deal, ha ha!
You're right though, it does seem as if the HFTs have their program orders and once the news hits the wires the market moves accordingly, either taking out the stops or squeezing the shorts.
They were gearing for a push to 1,300 today and got it, barely.
PRAN trading below 3 again today....this is getting painful
Quote from PropTraderMTL:
Wow, company selling shares into the pop... that instills confidence. I kept an eye on it today but didn't take a trade. Unfortunately I only trade intra-day and can't take advantage of any of these gaps.
I didn't update late last week. I started trading better on Thursday & Friday but still couldn't get a positive day. Very frustrating.
Thursday ($350) - Got a nice breakout on PRAN +$150 in the morning. Tried a short on SIRI and was out after about 2mins hahaha ($130). Got chopped out on AMD ($150). Was down about $150 on the close. Took RIMM long into earnings and ORCL short. Made $100 on ORCL short. RIMM missed and I got out for a $3 loss. Finished down $350 but was happier with my trading.
Friday ($220) - Didn't do a lot on Friday. Tried a couple of little trades on various stocks but just took small gains/losses. The only one worth mentioning is BCP which I was long 2k @ $8.25 and took a small gain. The stock then took off after a pull back. Went like 50-60c... ouch. Tried a short in the morning on LVLT looking for credits+spread. Failed on that one and lost $200. This was basically my loss for the day and felt my trading was getting better.
Today +$300 - Trades worth mentioning was AA +$90. It broke out further but I didn't have the patience for it. The HFT love this stock. TXCC +$188 caught a 15-30c move on this in the afternoon. It kind of woke me up from the semi-sleep I was having after 12:30. ERIC was a frustrating one... every time I bought it pulled back or sat there for 2hrs. Should have made $ on this but ended up losing $90. Caught a good move on CRYP late in the afternoon. Got long $1.68 and took it for 8-10c. It then went a total of 45c hahaha.... It's when you take your profits that they go. Felt better to have a positive day for a change. Keep them coming!
I wanted to short the market personally so badly last Friday. I decided to paper trade it and I'm short SPY @ $1,364. It closed below $1,300 today I think. See how it works out.
Market is very quiet at the moment... no volume on this bounce. Going to just keep hanging in here till I can get some momentum and stop the p&l battering.
Date: 28/03/2011
Net P&L: +$300
Month Balance: ($3,980)
Thursday ($350) - Got a nice breakout on PRAN +$150 in the morning. Tried a short on SIRI and was out after about 2mins hahaha ($130). Got chopped out on AMD ($150). Was down about $150 on the close. Took RIMM long into earnings and ORCL short. Made $100 on ORCL short. RIMM missed and I got out for a $3 loss. Finished down $350 but was happier with my trading.
Friday ($220) - Didn't do a lot on Friday. Tried a couple of little trades on various stocks but just took small gains/losses. The only one worth mentioning is BCP which I was long 2k @ $8.25 and took a small gain. The stock then took off after a pull back. Went like 50-60c... ouch. Tried a short in the morning on LVLT looking for credits+spread. Failed on that one and lost $200. This was basically my loss for the day and felt my trading was getting better.
Today +$300 - Trades worth mentioning was AA +$90. It broke out further but I didn't have the patience for it. The HFT love this stock. TXCC +$188 caught a 15-30c move on this in the afternoon. It kind of woke me up from the semi-sleep I was having after 12:30. ERIC was a frustrating one... every time I bought it pulled back or sat there for 2hrs. Should have made $ on this but ended up losing $90. Caught a good move on CRYP late in the afternoon. Got long $1.68 and took it for 8-10c. It then went a total of 45c hahaha.... It's when you take your profits that they go. Felt better to have a positive day for a change. Keep them coming!
I wanted to short the market personally so badly last Friday. I decided to paper trade it and I'm short SPY @ $1,364. It closed below $1,300 today I think. See how it works out.
Market is very quiet at the moment... no volume on this bounce. Going to just keep hanging in here till I can get some momentum and stop the p&l battering.
Date: 28/03/2011
Net P&L: +$300
Month Balance: ($3,980)
Not taking any size and limiting my risk. Today was a day where I took nothing but longs as I recognized early what the market was doing. Just got chopped out of my positions.
Didn't make any good trades and the losses I took were like under $50 on any individual stock. Nothing really to mention.
Looks like this market is window dressing the end of quarter as usual. Beginning of next month the market should show it's true hand. I expect it to be to the downside but I'm not going to fight anyone if we go up.
Going to take it easy for the end of the month. Just seem to take hits every time I trade this market. Not much fun
Date: 29/03/2011
Net P&L: ($310)
Month Balance: ($4,290)
Didn't make any good trades and the losses I took were like under $50 on any individual stock. Nothing really to mention.
Looks like this market is window dressing the end of quarter as usual. Beginning of next month the market should show it's true hand. I expect it to be to the downside but I'm not going to fight anyone if we go up.
Going to take it easy for the end of the month. Just seem to take hits every time I trade this market. Not much fun
Date: 29/03/2011
Net P&L: ($310)
Month Balance: ($4,290)
Quote from PropTraderMTL:
Not taking any size and limiting my risk. Today was a day where I took nothing but longs as I recognized early what the market was doing. Just got chopped out of my positions.
Didn't make any good trades and the losses I took were like under $50 on any individual stock. Nothing really to mention.
Looks like this market is window dressing the end of quarter as usual. Beginning of next month the market should show it's true hand. I expect it to be to the downside but I'm not going to fight anyone if we go up.
Going to take it easy for the end of the month. Just seem to take hits every time I trade this market. Not much fun
Date: 29/03/2011
Net P&L: ($310)
Month Balance: ($4,290)
You'll get it back next month dude once earnings season kicks in to high gear.
You have had a rough month with the inability to get anything going.
Hows your confidence?
You have kept the losses pretty small which you should be pretty happy with.
Have you been in slumps like this before?
Do you think its you or the market?
Stay positive and hopefully things turn around for you soon.
Hows your confidence?
You have kept the losses pretty small which you should be pretty happy with.
Have you been in slumps like this before?
Do you think its you or the market?
Stay positive and hopefully things turn around for you soon.
Nothing much happened today. I wanted to trade CLNE in the morning but didn't manage to do it as other positions went against me. Would have been a good trade around the $15.80 level.
I had a position in a stupid stock (I can't even remember the ticker) which was breaking out in the morning and then did nothing but puke once I bought. Ended up losing $170 on it.
ZLCS which I was trying longs yesterday in (unsuccessfully of course) gapped up this morning. Tried to buy the resistance (now support?) of yesterday and got smoked. Down about $160 on it.
Was down on an MU fish but managed to get a flat after being down $180 on it. Boy did that stock have some selling today hahaha.
Took a long in ABAT which was heavily sold off. I didn't just stick a big out though. I waited for it to break the $2 level... went back up and then tested it again. After the 2nd time it went down to the mid $1.90s I bought $2. I added little bits along the way. Got out some @ $2.15 and after letting it try and break up through the mid teens I eventually sold the rest @ $2.11. I was planning to add more if we broke out of the teens so only had small size. Up $200 or so on the trade.
Small negative day, these are the sort of days that would be a flat or small positive before but at the moment they are negatives.
Might trade tomorrow. Not sure. I'm guessing that end of quarter will see some volume. ....And so ends a sad month... Good bye March.
Date: 30/03/2011
Net P&L: ($170)
Month Balance: ($4,460)
I had a position in a stupid stock (I can't even remember the ticker) which was breaking out in the morning and then did nothing but puke once I bought. Ended up losing $170 on it.
ZLCS which I was trying longs yesterday in (unsuccessfully of course) gapped up this morning. Tried to buy the resistance (now support?) of yesterday and got smoked. Down about $160 on it.
Was down on an MU fish but managed to get a flat after being down $180 on it. Boy did that stock have some selling today hahaha.
Took a long in ABAT which was heavily sold off. I didn't just stick a big out though. I waited for it to break the $2 level... went back up and then tested it again. After the 2nd time it went down to the mid $1.90s I bought $2. I added little bits along the way. Got out some @ $2.15 and after letting it try and break up through the mid teens I eventually sold the rest @ $2.11. I was planning to add more if we broke out of the teens so only had small size. Up $200 or so on the trade.
Small negative day, these are the sort of days that would be a flat or small positive before but at the moment they are negatives.
Might trade tomorrow. Not sure. I'm guessing that end of quarter will see some volume. ....And so ends a sad month... Good bye March.
Date: 30/03/2011
Net P&L: ($170)
Month Balance: ($4,460)
Hey prop, are you getting a salary? Just curious how you are supporting yourself while your account goes sideways. I ask because I assume you are in Montreal and I know you guys have a different model up there.