Jan 29, 2009

Hello 2009

Finally, my first good day of the year. None of this nickel and dime crap. Overall, I'm happy with the end result but I'm still just a tad disappointed with one trade... PSSI. I exited too soon after an initial move my way. I usually only sell 1/2 my shares at BE once price moves 1R but I decided to move my exit to BE since I did well with CCL early on. Other than that I did very nice with my FO trade and (as of 3:27pm) my exit seemed to be timed just right. It took 29 days but I finally feel like I had a good day's work.


F-U trades: FO (final exit at 33.87)
Brick wall trades: CCL (exit at fib. ext.), PSSI (BE)






6 comments:

fir3ant said...

Very nice. Congratz!!!

TraderAm said...

Good trades today.

I still think you've been doing all right this month IMO. Every month can't be a fantastic month.Sticking with your plan, not overtrading etc. If you keep doing that you will have more good months than bad.

Tom T. said...

oonr7 - you have collected alot of photos of patterns that work and don't - so have I - I was wondering instead of looking at them every now and then, would it be helful to develop a playbook - like a cheatsheet, sort of like what a coach might have on the sidelines would have, to flip through as the chart develops to decide if a trade is starting to form up like a prior successful one or not - hope you get the picture - do you do this or would this be a good idea (have a set of charts for gap downs, further categorized by red OR's green OR's, etc.)?

Attitude Trader said...

Congrats man.

-AT

OONR7 said...

fir, AT: thanks guys... nothing better than a satisfying trading day.

TA: you're right... I'm pretty hard on myself. But as another blogger wrote - we don't have anyone over us during the day to tell us what we're doing right or wrong. So, it's completely up to us to make sure we're on the right track. Thanks for the nice words.

tom t: a cheat sheet is a good approach. I guess you can say the 3 setups I'm focusing on now are cheat sheets per se. For me, everything needs to be in sync... starting with the watchlist. I've completely memorized my rules for the 3 setups and they all begin with action at the ORH. So, I set alerts and wait for the setups to happen.
If you really want verification before entering trades, then sure... print out a great looking chart, paste it near your monitor and just wait for a similar pattern to form. Great idea.

Quentin said...

OONR7,

Hello, just read your comment from yesterday. No, I'm not from Dubai. I'm in Connecticut, USA.

But, I'd read your blog no matter where I'd live, in fact, sometimes I check it when I'm away from home.

Best trading to you and the rest of the regular traders that comment in this blog in this coming (uncertain ) year.