Spydertrader's Jack Hershey Equities Trading Journal III

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Quote from Huskydog:

I picked up 1000 at 9.029. I am watching to see if FRV is met at EOD. I think it is acting well after getting over the high of the consolidation, but I'll let the market tell me if I'm right. :D
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Nicely done!:p
 
Quote from mischief:

VirginTrader,

It's been my experience that closing next day on open yields superior results for stocks that fail to reach FRV than closing at EOD.

To do this I use an 'OPG' market order (assuming you're trading using IB, not sure if other brokers have similar orders).

BTW, I live in Australia and auto-trade the 'beginner' system as outlined by SpyderTrader at the end of Journal 1. Something similar may work for you during the day while you work. Not sure what setup you have, but it IS possible to automate much of this.
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Thanks M! I'll try that
 
Quote from thenewguy:

Nice trade!

I took a bit of a beating today, here is the summary:

NVEC - 1.00 loss. Closed it because the price was behaving poorly, and it looks like a possible FTT of the new, smaller upward channel to me.

COGO - .60 loss, reason's above.

SIM - sold for a wash for not meeting FRV.

DXPE - I'm continuing to hold because it is right at the RTL of the down channel after a possible FTT.

GIGM - I sold for a small loss for not meeting FRV

Thanks,

TNG
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Nice trade on DXPE! I'm giddy about CRZO right now. It needs to break $27 to break the channel otherwise it'll get sucked back in(?) stop at 26.95
 
Quote from virgintrader:

Nice trade on DXPE! I'm giddy about CRZO right now. It needs to break $27 to break the channel otherwise it'll get sucked back in(?) stop at 26.95
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Thanks, and same to you on CRZO!

fwiw (and take this with a healthy dose of salt), it looks to me like CRZO has some room to grow. (see attached).

Thanks,

TNG
 

Attachments

Sold 500 BITS at 9.28 in my work account. I have a lot of this stock compared to its volume, so lightening up on the way up seems smart to me. Still holding the following:

400 DXPE
1600 BITS
500 BITS in the work account.

Moved stops up (mental stops) in both securities.

- Huskydog
 
Quote from Huskydog:


400 DXPE
1600 BITS
500 BITS in the work account.

- Huskydog
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Sold half of the DXPE at 33.27. I don't like how light the volume is on the way up in this, especially with the S and P futures selling off.

I have been daytrading for over 6 years, and I may have an issue watching my JH swing trades too closely. Time will tell on this one.

All commentary is appreciated.

- Huskydog
 
Quote from Huskydog:

Sold half of the DXPE at 33.27. I don't like how light the volume is on the way up in this, especially with the S and P futures selling off.

I have been daytrading for over 6 years, and I may have an issue watching my JH swing trades too closely. Time will tell on this one.

All commentary is appreciated.

- Huskydog
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Micromanaging... I do it too. Often if I feel I'm doing that I simply back out to the daily and work my way down to reorient myself.

TNG
 
Quote from thenewguy:

Micromanaging... I do it too. Often if I feel I'm doing that I simply back out to the daily and work my way down to reorient myself.

TNG
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This will probably an issue for me at times. I have only read up to August of Journal II, and I am still working on getting my hands around the FTT concept. When I see the stock going up on light volume, my instincts tell me to be wary. Obviously, I need to finish the second journal to be more comfortable with some of the more advanced concepts.

I appreciate your input.

:p

- Huskydog
 
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