Skips69 Journal

[Zodiac4u]

Quote from skips69:

As I began typing this reply, I had to backspace.:eek:

I was going to say that I wanted to trade like most others on this forum. Even being relatively new to trading, I recognize that would be my first mistake.

Thanks for the response!

Even to say you want to trade like most people on ET isn't saying much about what you are trying to accomplish. The thing is that most people here probably don't do as well as you think.

Good luck trading!

 

[Zodiac4u]

Quote from Zodiac4u:

Even to say you want to trade like most people on ET isn't saying much about what you are trying to accomplish. The thing is that most people here probably don't do as well as you think.

Good luck trading!

I looked at Alcoa it has been moving up pretty well but my software is giving me hints that the momentum on the 5mn chart is starting to weaken. maybe a pull back toward the 11.50 area. I would like to see the 200 moving average cross-over the 90 ma on the 60mn before I would get in. But that's just me.

 

[skips69]

Quote from Zodiac4u:

Even to say you want to trade like most people on ET isn't saying much about what you are trying to accomplish. The thing is that most people here probably don't do as well as you think.

Good luck trading!

Thanks. I appreciate the insight.

 

[skips69]

Quote from Zodiac4u:

I looked at Alcoa it has been moving up pretty well but my software is giving me hints that the momentum on the 5mn chart is starting to weaken. maybe a pull back toward the 11.50 area. I would like to see the 200 moving average cross-over the 90 ma on the 60mn before I would get in. But that's just me.

Interesting perspective. Since this one was a little iffy for me, I think I'll sit tight to see how it develops.

Thanks.

 

[skips69]

Trading Thoughts for 1/5/09:

Aria Pharmaceuticals if it opens at or above Friday's .91 Close.

 

[skips69]

Quote from erikrkolodny:
Reiterating-If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-
[/B]

Interesting. If I had taken this advice, I would have had an opportunity to buy my pick of the day (Aria) at .86 and rode it to the close of .98.

Nonetheless, even if I had purchased ARIA at .91, the opportunity still existed to sell within my target range of 5%.

Used a trailing stop for the first time today. I was holding shares of ALD that I had purchased at 2.6 and decided to sell using a trailing stop.

Overall (after hefty commissions) NET +3.11. Not a bad first trade of the year.

If I quit now, I might actually have a better balance sheet than the other 95% of the daytraders will have for the year

 

[skips69]

Quote from Zodiac4u:

I looked at Alcoa it has been moving up pretty well but my software is giving me hints that the momentum on the 5mn chart is starting to weaken. maybe a pull back toward the 11.50 area. I would like to see the 200 moving average cross-over the 90 ma on the 60mn before I would get in. But that's just me.

Good call!

 

[Zodiac4u]

Quote from skips69:

Interesting. If I had taken this advice, I would have had an opportunity to buy my pick of the day (Aria) at .86 and rode it to the close of .98.

Nonetheless, even if I had purchased ARIA at .91, the opportunity still existed to sell within my target range of 5%.

Used a trailing stop for the first time today. I was holding shares of ALD that I had purchased at 2.6 and decided to sell using a trailing stop.

Overall (after hefty commissions) NET +3.11. Not a bad first trade of the year.

If I quit now, I might actually have a better balance sheet than the other 95% of the day traders will have for the year

Nice call on the ALD. The moving averages were on your side and the follow through momentum was there. Good One!
Don'T feel bad about Aria. That one is a little iffy chart wise. The best push for the last two days was just in the last 5mn of the close. For me not good. I want to see a nice steady rise in price. Seeing a slight drift side ways to slightly up is to weak for my blood. Hoping that you get a pop up is just plain stupid when you have so many stocks out there to pick from.
What are you using to make your picks?

 

[skips69]

Quote from Zodiac4u:

Nice call on the ALD.

I have to first give credit to erikrkolodny because he mentioned this as one of his "trading thoughts" for the day. But after I looked at it, it just seemed like a good buy.

Quote from Zodiac4u:
What are you using to make your picks?

TD Ameritrade Strategy Desk

 

[skips69]

ARIA popped 21.43% today. It appears that I just need to develop the stomach for my swing trading strategy. I opted out of the open above .86 yesterday. Then it closes at 1.19 today :eek: