Hur-effing-ray
Finally... I finally had a very, very decent day. It's not just the final dollar amount I was happy with but the fact that 5 of my 6 trades were winners - long and short. I implemented How I Day Trade's (and TraderAM's) method of partialing after 1R then moving my stop to BE. That really helped mentally as I knew at all times that I was pretty much in green territory. I traded LM, PSS, TEX, SAI, LRCX and MTL. Only LM lost money for me. Won't post all the charts but here are a couple:
PSS
Entered long PSS on a break of the 10:45 bar high. Liked the strong first bar and the higher lows combined with my entry bar's proximity to the 5ema. Partialed after 1 and 2R then exited at around 17.87 just because I was happy with the profit and thought a reversal was due.
MTL
Entered MTL short on a break of the 12:15 bar low. I was looking at the 3-min chart on this as well and liked how the 5ema crossed below the 20ema and price was using the 20ema as resistance. Partialed after 1 and 2R then called it a day at 20.89.=
All my trades weren't huge winners but I did trade a lot which makes the cumulative result very satisfying.
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10 comments:
Nice on 00nr7.
Good to see you back on track. Stick to your guns, and I'm sure you will be fine.
I've never done more than 6 in a day. So the race could be on for first one to do 7.
Actually thinking about it makes me nervous, so I'll withdraw from the race..lol.
Perfecto!
traderam: I think the stubbornness in me won out and I just had to continue to explore some of the new methods I was trying to incorporate a couple of weeks ago. I think I wrote that I just need to figure out how to use it properly. I hope I've stumbled upon it.
I actually can't believe I traded 6 stocks and didn't open my first position before 11am EST.
Let's see when I'll repeat that number again :)
anarco: thanks!!
Looks like you are catching smaller moves? It's good to catch any move anyway~ Congra~
00NR7,
I am glad to see you are back on track. I have been reading your posts for awhile and really enjoy it.
Keep up the good work.
Thanks,
Tyler
oonr7 - great job - the extra benefit to you is ending the week on a positive note - I love Friday wins!!
Finally, I can stop reading your blog with my fingers covering my eyes in anticipation of reacting to additional bad news.
tl: yeah, they weren't big moves but who's to know when you get in a trade whether it will be big or not. The point is to get into as many good trades as possible and hope they all make money. Sooner or later... you'll catch the big movers.
tom t: sorry man, it was a late post. These were actually Thursday trades. And thanks anyway.
tyler: thanks and I like your screen name :)
excellent job - protect those profits and let those winners run. I actually sell 1/4 of my positoin at 2R - pull my stop to even at 1R. Once I get to 1R I look at as a "free" trade. Either way to manage those trades.
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