Trading Journal - July

Hi Everyone,

Just wanted to express my gratitude to Vinny & Seanote & others that are posting their real trades.

Perhaps that is because my style is also to look for .20 to .40+ gains and keep losses to .05 to .10 on large share sizes.

I mostly trade the QQQ stock but I am branching out. I'm a rookie and I like the range that QQQ trades in - it is easy to match up it's movement to overall market sentiment. It seems safer, somehow -maybe that's an illusion?

Now I'll just shut up and try to learn something...

Could I ask a questions?

1) can anyone recommend an accurate, clear source of learning about the price/volume relationship between futures and equities?

Thanks for the help,

Paul
 
How large is your share size? I think .05 or .10 stops are too tight. You'll end up getting whipped around all over the place (especially in market stocks). It's better to scale into a position and add onto it if it moves in your favor versus getting large size at one price and sweating bullets when it downticks.
 
GoldenArm,

Thanks for reply post...

Actually I do usually scale in/out - I have been trading most often in 500 share increments and will scale up to 1500 when things are going my way - if the trade goes against me quick I "mental stop" out very quick - I have learned about preservation of capital the hard way in my first weeks.

So far I tend to be "right" on a trade about 60% of the time and wrong about 40% - my theory is that if I only take small losses and let my winners run, the math is in my favor. Am I clueless or is my logic sound? Comments appreciated, for or against.

I am amazed at how tough trading is from a psychological level. I'm trying to learn how to be more mechanical and to not 'invest" emotionally in any one trade.

I must admit that sometimes fear prevents me from letting winners run - I hate it when a winner turns into a loser so I probably take profits faster than I should - I leave a lot of money on the table...
 
Originally posted by AAAintheBeltway
Seanote,

I was away from the screens most of the week and am now just trying to get caught up. What a week to miss, eh? Anyway, I noticed there is a troubling divergence between the NDX and the SPX, very evident on the 60 minute. Any thoughts on this?
More...

I think that has something to do with the fact that stocks are setting lower lows and lower highs. Until this corrects we will remain in a bear market and these indicies will continue to show a downtrend.
 
Originally posted by GeeTO69
seanote, you still short AOL & TYC? what tops on each do you have in mind?
More...

$14.50 area on TYC
$12.80 area on AOL

I'm giving these more room since I feel the market will have a heavy selloff Wed or Thurs.
 
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