Trading Journal - July

Originally posted by Seanote
Hello All -

I been in South America for the last 2 weeks. I am still holding AOL, QLGC, TYC and NVDA. I plan on scaling out of my TYC long when I get close to even. It was a bad call.

My QLGC short was intended for a massive decline which I think is inevitable yet. Granted I was up 5 points and usually would have place a protective stop immediately, but that is not my strategy with this one. I stated awhile back that this stock, IMO, will hit the low 20's once the second leg of this bear market takes control and sets new lows. I am viewing these holds as LONG TERM swing trades. We're all used to intraday or short term swing trading mentalities which makes it hard for some to understand giving up 5 sticks on a 5K position. I obviously didn't expect QLGC to rally as quick as it did. In all honesty, I was away from computer and any means of communication for 2 days and I knowingly took that risk with my open positions, which were only . This market is going to set new lows, period. The PMs I received for not closing my QLGC short and some of the comments were quite amusing and entertaining. I'll be sure to save those when I cover around $24 and send a freindly reminder why I stuck to my guns. I still like AOL short as well. I admit, TYC was a bad call but I think I can squeeze out a break even in the coming weeks. I haven't changed my view on NVDA long term either and will most likely buy long term puts to protect my long. I don't want to close, even in a declining market since they are a big target buy out at any time.
More...


to hell with "long term", thats for losers ..it makes absoultely no sense to me to not only lose all that profit on spec but to go red on the whole bunch...on pure spec.
 
Originally posted by FasterPussycat



to hell with "long term", thats for losers ..it makes absoultely no sense to me to not only lose all that profit on spec but to go red on the whole bunch...on pure spec.
More...

Pure spec. ??? My QLGC trade has much more reasoning than speculation alone. You manage your own account how you see fit and I'll take care of mine. Why don't you post your trades? I'm sure I'll be able to find a reason to rip just about every trade you make. You saw my trading style for a few months, that's it. I have different styles, hold times, ect for different markets. I never held myself out to be a pure daytrader as I stated at the beginning of my thread.
 
Originally posted by Seanote


Pure spec. ??? My QLGC trade has much more reasoning than speculation alone. You manage your own account how you see fit and I'll take care of mine. Why don't you post your trades? I'm sure I'll be able to find a reason to rip just about every trade you make. You saw my trading style for a few months, that's it. I have different styles, hold times, ect for different markets. I never held myself out to be a pure daytrader as I stated at the beginning of my thread.
More...


sorry, i came on a little strong. your management of these trades is beyond my comprehension but you are right it is your account. please accept my apology.
 
Originally posted by Madison


Really? Someone should tell Warren Buffett before it's too late :D
More...

Now BRK.A/B that's a good long (short?) term short

I once read somewhere that Buffet accounts for 1/3 of the stock value, brk will plumet when he dies.
 
Originally posted by AAAintheBeltway
Seanote,

Great to see you back. How much room would you normally give a longer term trade? How is the futures trading going?
More...

Futures trading is going very well. I have haven't traded a stock in almost 2 weeks. Mostly because of this market, low volume, TA doesn't help much, ect; Futures have been easier for me to trade so I'm concentrating on that for now.

I look at 50 & 100 Day MAs for stop on my long term plays. I don't use a % or $ value like my day and swing trades. If I get emotional over a long term stock gapping against me then I would get whipsawed almost everytime. If you look at a 1 and 2 yr chart, you will see a different "picture" and have a different long term outlook on a swing trade vs. looking at a 10min 30 day chart. I know swing traders that use 10 YEAR CHARTS. It's all relative to your hold time and risk tolerance.
 
Originally posted by Nemsy


Now BRK.A/B that's a good long (short?) term short

I once read somewhere that Buffet accounts for 1/3 of the stock value, brk will plumet when he dies.
More...

He has too much money to die. Banks, S&Ls, and Wall Street will never let him die. He'll buy additional years to his life when that time comes.
 
You must log in or register to reply here.
Back
Top