The adventures of a new Trader

Quote from cashmoney69:

Thank you. I noticed in your profile you run your own business. Mind if I ask what that is?
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We are in the aluminum and stainless steel distribution business.
 
I haven't updated this journal in a while...
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APOL

11/17/06

Bought 200 APOL @ 35.14

11/22/06

Sold 200 APOL @ 35.74

profit 106.00 after coms

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YHOO

11/16/06

Short 200 YHOO @ 26.73

11/22/06

Cover 200 YHOO @ 27.37

profit - 142 after coms

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GROW

11/27/06

Short 200 GROW @ 48.50

12/5/06

Cover 200 GROW @ 57.84

profit - 1,882.00


review:

I was so confidant that GROW was gonna fall, I ignored the ascending triangle pattern forming before my eyes. On November 30th I really started to worry that the stock was going to gap up, because it was making new highs, and closing higher each day. I put too much faith in the technicals that I ignored the chart completely. Not only that, but I didn't set any stops . YES I KNOW!...you dont have to tell me, I already feel like an idiot enough as it is. :mad:

I saw dollar signs from the free-fall that GROW COULD have developed into, but never did. I didn't want to admit i was wrong, and I got my ass handed to me. Fuck. Lesson learned.

cm69
 

Attachments

Some other trades I have going:

Bought wire on 11/15 at 24.50 with stops at 22.90 / 27 PT

the stock hasn't performed nearly as well as I'd hoped..but I'm staying in until stops / pt's are hit.... why backout now?

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I shorted MEL 42.81 looking for a 2.35 drop to 40.46 PT / stops at 43.56 (.75)

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I got a long order for WAG at the market

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Sorry to hear about your loss on GROW. I don't know what technicals you were using, but whatever they are don't use them again. I can't even find a technical indicator that I use that is negative on this stock. That's not a criticism. It is just a super strong stock. When you see relative strength over three times that of the S&P you're just asking for trouble by shorting. Sure it will revert to the mean at some point in time, but your timing would have to be impeccable.
 
Quote from cashmoney69:

in WAG 43.92 ... this is a long term hold ( 15 - 30 days )
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What about stops and/or targets?:confused:

Any reason you like this long term?

Fundamental? technical?

Not criticizing just curious.

If it were on my radar I might have bought it. One of my stategies is to buy when a stock breaks its 50MA.

Good trading.:)
 
cash - I just glanced at a few of the calls in the journal and have one question - have you found that the majority of your winners are going with the current/short-term trend or against it?

See if there is a correlation there and maybe you can weed out some losers. Just an idea.
 
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