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Stone Kettle Soup Project: An Onion
- Thread starter rlb21079
- Start date
I sold my contract of QLGC and MXIM just before close on monday, nearly back to what I paid for them last week.
But of course, I should have held on, I'd be up now.
p.s. how are you doing with your onion soup? I can't get past the croutons and melted cheese to figure out all your technical commentary
But of course, I should have held on, I'd be up now.
p.s. how are you doing with your onion soup? I can't get past the croutons and melted cheese to figure out all your technical commentary
I was down because of some early floundering (doesn't mix well with onions apparently). Right now I am in the black on my only position but not by much. DSPG moved well yesterday, but hasn't reached my target. If it dives before 20, then I'll not have moved my stop and I'll take a hit. I highly suspect this is exactly what is going to happen. I've been doing a little better with AMZN, but that to is too close to call so far. Doing taxes was quite...taxing...and with the market as flat as it has been I've speant what time I've had testing ideas and tinkering with AmiBroker.
I subscribed to Lycos Livecharts an have begun gathering 5min intraday data. Their service is great too, I emailed to get a list of ticker symbols and was pointed to a plethora of information. They have available a wide array of "breadth" data (adv/dec issues, volume, etc). I am going to start tracking futures now too, but I am not sure if they provide SSF data. Not too important, considering how closely they follow the underlying issue.
I subscribed to Lycos Livecharts an have begun gathering 5min intraday data. Their service is great too, I emailed to get a list of ticker symbols and was pointed to a plethora of information. They have available a wide array of "breadth" data (adv/dec issues, volume, etc). I am going to start tracking futures now too, but I am not sure if they provide SSF data. Not too important, considering how closely they follow the underlying issue.
sold 1 MXIM SSF today at noon at $38.90. Why? MXIM was up about $2 all morning, well ahead of the other 5 in my group. And yet, the NQ kept dropping . . . I expected MXIM to follow eventually.
I could have covered about $38.35 around 3:20 pm. But I didn't . . . we'll see if it continues downward tomorrow.
I could have covered about $38.35 around 3:20 pm. But I didn't . . . we'll see if it continues downward tomorrow.
DSPG Position @ 18.86 (1x) (Carryover)
DSPG Sell Stop @ 18.25 ---changed--- @ 19.70
DSGP Target = 20.00
DSPG High = 21.14
----Sell Stop Filled @ 19.70----
P/L = +0.84
Cum P/L = +0.61
I missed the high, so the stop could only be set at 19.70 instead of the planned stop of 19.75.
I will conlude this thread with a few "lessons" learned:
(1) Waffling is expensive.
(2) A system, be it mechanical or discretionary, must have clear points of execution. IOW: Decide in advance of action.
(3) Aim for higher Reward/Risk Ratio for swing trading. (>2.5)
(4) Create multiple exits, for example: stop loss &/or time limit &/or profit target.
(5) Profit targets may best be employed as exits, as opposed to points to change stop-exit. In the above trade (DSPG) 20.0 was my target and the time when I changed my sell stop to 19.7; it may be better to exit w/ a market order instead. I must test for this possibility in the future.
DSPG Sell Stop @ 18.25 ---changed--- @ 19.70
DSGP Target = 20.00
DSPG High = 21.14
----Sell Stop Filled @ 19.70----
P/L = +0.84
Cum P/L = +0.61
I missed the high, so the stop could only be set at 19.70 instead of the planned stop of 19.75.
I will conlude this thread with a few "lessons" learned:
(1) Waffling is expensive.
(2) A system, be it mechanical or discretionary, must have clear points of execution. IOW: Decide in advance of action.
(3) Aim for higher Reward/Risk Ratio for swing trading. (>2.5)
(4) Create multiple exits, for example: stop loss &/or time limit &/or profit target.
(5) Profit targets may best be employed as exits, as opposed to points to change stop-exit. In the above trade (DSPG) 20.0 was my target and the time when I changed my sell stop to 19.7; it may be better to exit w/ a market order instead. I must test for this possibility in the future.
Is it Soup yet?