Not technically a trade, but shorts on PD shore were purdy!
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Trade of the Day
- Thread starter marketwhizz
- Start date
nice -- gap downs are always difficult for me. you catch that?
mcelitetrader
ET Sponsor
I took newmont (NEM) short at 48.90 .....it rallied against me and broke back above 49.00 scaring me a little. I held because gold was just destroyed....held it down to 48.50 when some weird buying jumped in....Price improved 10 cents when my 61 bid was filled at 51......Im going to miss NYSE price improves.....
Got back in after the gibberish at 48.49 as we cut under 48.50 then rode it to a price improved exit at 48.01. Again i was given an 8 cent price improve on my exit....Oh how I will miss price improves. I took 90% of the move and with an exit thrown in so very pleased with this one.
I missed the first bit of nem move with a premarket entry in cde that sat and did nothing until i exited then it dropped 30 cents!!! (5 buck stock)....You have to choose....a slow moving slug or a shoot-em-up monster......
As i put out my short on nem I read on one of these gold threads where someone shorted nem at 48.69 so it seemed to be a stock with interest. I was reading threads as I try to put out positions then not watch level II as it shakes me out when i micro-manage the stock.
Got back in after the gibberish at 48.49 as we cut under 48.50 then rode it to a price improved exit at 48.01. Again i was given an 8 cent price improve on my exit....Oh how I will miss price improves. I took 90% of the move and with an exit thrown in so very pleased with this one.
I missed the first bit of nem move with a premarket entry in cde that sat and did nothing until i exited then it dropped 30 cents!!! (5 buck stock)....You have to choose....a slow moving slug or a shoot-em-up monster......
As i put out my short on nem I read on one of these gold threads where someone shorted nem at 48.69 so it seemed to be a stock with interest. I was reading threads as I try to put out positions then not watch level II as it shakes me out when i micro-manage the stock.
great trade. I'd love to keep this thread open where traders share their best/worst trades of the day. There's so much anonymous trades on ET -- nice to have real tickers, real prices.
One more note -- I usually don't screw up this much on a trade as I did today but there's a lesson here -- I've been trading part time for a while now because I'm involved in some real-estate business with some partners. I think with trading -- it's all in or nothing and if your attention is scattered, then the p/l will show it.
One more note -- I usually don't screw up this much on a trade as I did today but there's a lesson here -- I've been trading part time for a while now because I'm involved in some real-estate business with some partners. I think with trading -- it's all in or nothing and if your attention is scattered, then the p/l will show it.
mcelitetrader
ET Sponsor
Wow...ive been drunk all day it seems.....lets try the chart again...with proper numbers....(if the moderator reads this it can be removed)
I took newmont (NEM) short at 46.90 .....it rallied against me and broke back above 47.00 scaring me a little. I held because gold was just destroyed....held it down to 46.50 when some weird buying jumped in....Price improved 10 cents when my 61 bid was filled at 51......Im going to miss NYSE price improves.....
Got back in after the gibberish at 46.49 as we cut under 46.50 then rode it to a price improved exit at 46.01. Again i was given an 8 cent price improve on my exit....Oh how I will miss price improves. I took 90% of the move and with an exit thrown in so very pleased with this one.
I missed the first bit of nem move with a premarket entry in cde that sat and did nothing until i exited then it dropped 30 cents!!! (5 buck stock)....You have to choose....a slow moving slug or a shoot-em-up monster......
As i put out my short on nem I read on one of these gold threads where someone shorted nem at 46.69 so it seemed to be a stock with interest. I was reading threads as I try to put out positions then not watch level II as it shakes me out when i micro-manage the stock.
I took newmont (NEM) short at 46.90 .....it rallied against me and broke back above 47.00 scaring me a little. I held because gold was just destroyed....held it down to 46.50 when some weird buying jumped in....Price improved 10 cents when my 61 bid was filled at 51......Im going to miss NYSE price improves.....
Got back in after the gibberish at 46.49 as we cut under 46.50 then rode it to a price improved exit at 46.01. Again i was given an 8 cent price improve on my exit....Oh how I will miss price improves. I took 90% of the move and with an exit thrown in so very pleased with this one.
I missed the first bit of nem move with a premarket entry in cde that sat and did nothing until i exited then it dropped 30 cents!!! (5 buck stock)....You have to choose....a slow moving slug or a shoot-em-up monster......
As i put out my short on nem I read on one of these gold threads where someone shorted nem at 46.69 so it seemed to be a stock with interest. I was reading threads as I try to put out positions then not watch level II as it shakes me out when i micro-manage the stock.
Attachments
Quote from marketwhizz:
One more note -- I usually don't screw up this much on a trade as I did today but there's a lesson here -- I've been trading part time for a while now because I'm involved in some real-estate business with some partners. I think with trading -- it's all in or nothing and if your attention is scattered, then the p/l will show it.
Wiser words are rarely spoken.
Everytime necessity has called me away for an extended period, at least one stock has burned my ass.
Fade the Gap on DELL. Entry at $21.14. Sold 1/2 position at $21.36. Sold remaining at $21.58. Simple strategy 2% crash stop. Take profits at +1% on 1/2 position. Take remaining profits once gap gets filled. Gap filled at $21.65.
Quote from tradewiz50:
Fade the Gap on DELL. Entry at $21.14. Sold 1/2 position at $21.36. Sold remaining at $21.58. Simple strategy 2% crash stop. Take profits at +1% on 1/2 position. Take remaining profits once gap gets filled. Gap filled at $21.65.
i was long dell at open, got out after the spike.
that's it? out of the thousands of traders on ET, no one else cares to share their trade of the day? Where's RM when you need him?