puddles 2011 trade journal (formerly a 70k bet..)

Quote from Math_Wiz:

Hi Puddles,

How did you enter LVS on Monday? The 10:00 bar went from a High of 40.72 to a low of 40.63. You entered a penny below that bar, as you almost always do. But how do you get that price? Do you set a stop limit order at 40.62? Or do you set a stop market order at 40.63 and they fill you at 40.62? Or do you just sniper the stock and as soon as it gets to you entry you whack it with a market order?

It's funny I know, but I'm just wondering how you can get filled so consistently at exactly one penny below the bar. Even with high volume stocks that can be hard to do sometimes, but you always seem to do it.

Thanks,
+-*/ Math_Wiz
More...

wow, you've really been watching my trades. :)

yes, i try to get in at 1c above or below the prior bar and i use a stop limit order. depending on the stock and situation i'll give it a cent or more of slippage on the way in. there is always the potential to get no fill and miss a trade and usually when this occurs it's a home run winner. it kind of hurts but i'm not into chasing entries and really messing with my r:r.

what you see posted on my trades is my desired entry price, my fill is not necessarily that price.. i calculate my target using 2:1 ratio based off the desired entry and not the fill. my goal is a 1.8:1 realized r:r. in the rare case i get price improvement on my entry, i will take into account the actual entry and calculate a closer target. (price improvement on entry is generally a very very bad sign)

ie.

LONG ABC 20.25
STOP 20.15
TGT 20.45

out +0.19

i would have filled .26 on the way of this trade. in my records i would have recorded the r:r on this trade as 1.73:1 (19:11)

LVS filled me at my trigger price on the trade you mentioned.

<img src="http://puddles.humanfund.ca/20110523/lvs_execs.png">
 
Quote from freewilly:

oh, man, tight stop on RIMM saved your ass.

kai
More...

yup.. slipped 3c on the way out..

(i'm assuming you're referring to monday's RIMM loser)
 
<img src="http://puddles.humanfund.ca/20110524/spy.png">

<img src="http://puddles.humanfund.ca/20110524/rimm.png">

<img src="http://puddles.humanfund.ca/20110524/unh.png">

<img src="http://puddles.humanfund.ca/20110524/jdsu.png">

<img src="http://puddles.humanfund.ca/20110524/mdt.png">

9:42

SHORT RIMM 42.93
STOP 43.03
TGT 42.73

- SPY gap up, RIMM gap down
- Perfect gap trade, little afraid of shorting RIMM due to yesterday's spectacular fail on the same trade
- out +0.2

9:57

SHORT UNH 47.95
STOP 48.11
TGT 47.57

- whole healthcare sector tanking
- tight lower high at the lows
- i even said in chat "i think i might be late on this one"
- i noticed i hadn't set up my alerts for the day so I checked to see if #s were coming out. Saw the 10am new home sales, said to myself "I should punch out this UNH trade".. I didn't, numbers were good enough to headfake the market higher and stop me out. Lesson learned
- out -0.2

10:05

SHORT JDSU 19.34
STOP 19.45
TGT 19.12

- no real bounce at 10am
- chart kinda sloppy, i could have probably avoided this one
- out -0.12

10:14

SHORT MDT 40.00
STOP 40.11
TGT 39.78

- nic and I had been watching this level
- tried to short .99, got filled 1c better. bad sign
- out -0.11

http://puddles.humanfund.ca/wp/2011/05/24/2011-05-24-trades/
 
Yep, been watching your trades and reading your thread(s) lately. I was reading Geez's thread yesterday, and I saw one of your posts from a year ago (5/24/2010) that I had a question about.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752&perpage=5&pagenumber=412

In your notes for your "Long HGSI" trade, you state that what happend was "f'ing scary to me". I understand what happened, because you described it well, but I don't really understand why it was "f'ing scary to you".?

If you can remember this trade from a year ago (?), can you describe in more detail why it was f'ing scary? I understand Sterling had problems that day, but scary? Where was the intense fear coming from?

Thanks if you can answer!
+-*/ Math_Wiz
 
Quote from Math_Wiz:



If you can remember this trade from a year ago (?), can you describe in more detail why it was f'ing scary? I understand Sterling had problems that day, but scary? Where was the intense fear coming from?

Thanks if you can answer!
+-*/ Math_Wiz
More...

might have been a bit of a hyperbole. :)

usually i don't step out of my house for very long with trades open. in this case i did and my stop didn't trigger. that's a little unnerving
 
Quote from iceman1:

how do you select equities?

If you exit per model do you re-enter same equity more than once per day?

Thanks
More...

i wrote my own stock scanner that watches 500 stocks for the setups i look for.

i have no issues trading the same equity multiple times a day as long as it sets up
 
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