Jan 21, 2009

IBM: F-U

Boy, I was just waiting for that first F-U post title. Went long IBM and things were looking good but then it got very choppy. While my original stop was never hit, the swings in this trade justified a scale out exit strategy. Of course, I wish I could've seen the trade through to at least $91 but. Also traded KGC short for a minor gain as well.






7 comments:

Anonymous said...

does F-U mean f*** you meaning a bad trade??

fir3ant said...

I was also "on my way" to trade IBM (however, on the 15min chart), but for some reason hesitated and let it go. Then the chop started and I've decided to pass.

Anyway, a profitable day, is a profitable day and I'll take it any day.
Congratz to you man for breaking the spell...

TL said...

Good to see you back on track again. Just some thoughts, does patience include sitting through the chops?

TL

TraderAm said...

Hello 00nr7.

Nice F-U trade...still seems a bit odd saying that..lol.

Anyway quick question regarding your IB trades window. I am setting up/upgrading a new PC at home and have installed latest software on it (IB, QT etc etc). All fine, but with the new IB trades window, I can't seem to get the gridlines to display like yours. I've done some searching around for the option but no luck.

It's a bit easier to read with gridlines (esp if I have traded multiple stocks) as I refer to them for back analysis etc.

When you have time, could u point me to where it can be set ?

Thanks.

OONR7 said...

anon: actually F-U is a one of the setups I look for. Take a look at my 'My pledge' post for more info.

fir3ant: what an interesting name... as for IBM, there really was a solid entry on the :15. About the only place that looked tempting was the 12:45 bar, but the chop would've got you 2 bars later.

tl: I will wait for my entry, chop or not. Both of my trades yesterday were setups that I look for - IBM was an FU setup and KGC was a Hangin' Out setup (off the 5-min chart). Unfortunately, the chop forced me to give back some nice profit yesterday.

ta: I know what you mean about the gridlines. I'll check it out when I fire up my TWS later. I use the downloaded desktop version... not sure if yours is a newer version or not but I hate changing my layout :)

hypr said...

Instead of buying OR breakouts ever think of buying a pullback to the OR high? Is you opinion that they are less successful?

OONR7 said...

hypr: not sure what you mean as I look at the OR high/low for entries right now. Are you possibly talking about the intraday pivot high/low? If so, I think there are also some opportunities there but I've determined that the :15 OR provides plenty of tradable setups.