Trading Journal - July

Originally posted by FasterPussycat
seanote, your style seems to have changed. you kept things tight and fast at first. now you're swinging high & wide especially on these latest "daytrades" - NVDA, AOL, TYC. you're down well over a month's pay now aren't you? even if you are vindicated (eventually), will you call these good trades? was that NVDA trade a failed bounce play, certainly seems so. yes it may bounce back yet (or not) but my gawd man at this point who cares! :-O
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I stated that I would hold these 3 longer term that previous plays. I'm waiting for the market to break on AOL & TYC. NVDA is a long-term play and IMO will be a $20 stock in 6 months. Granted, I would have dumped it if I was up $2 but I have the luxury of moving that position to my long term holds instead of swing trading. I've always liked that company and now that it's at it's lows I think it will rebound nicely when that day comes. Regarding my open P&L vs. usual monthly returns, I have had a tremendous month of July (especially the last 2-3 weeks) as I have decided to increase my share size for the longer term plays. As I mentioned some posts ago that I am now trading almost 50 roundtrips a day with a few swing trades since the market conditions are optimal for that type of strategy right now. I don't look at my monthly returns vs. current open P&L. I have more than enough equity in my account to whether this type of set back. I try to keep my equity in a particular range and withdraw additional monies that I allocate to my other businesses so I never risk loosing all of my assets.
 
Originally posted by moffitt
Seanote
Will you be posting any commentary or trading in the month to come?? Miss your comments and watching you trade.

:cool:
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I will as soon as we have a slow morning.
 
Good example of taking 20% + profit on that TYC personality in a daytrade. Tends to help to buy as close to support as you did with TYC.

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''Enjoy your read''-Alan Greenburg-Bear Stearns
 
This morning is a major reversal day - gap up with minor pullback and then power up is a typical pattern. Short should be caution. Shot will be squeezed until after lunch hour at the earliest. IMO.
 
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