May 29, 2009

Friday's trades

I hate any losing day, but Friday's just last longer. Maybe I should just stop trading Friday's.... always seems to have crappy action. Entered NE and BUCY long. Only BUCY moved to 1R and allowed me to place half my shares at BE.
Looking forward to 4 (got tix to French Open on Friday) straight trading days next week.





24 comments:

Anonymous said...

JCJ: no brainer. Back to a postive 1R day.
May be my trade has a negative correlation to yours..lol

Anonymous said...

NE moved 1R or BUCY?

OONR7 said...

anon II: "Only NE moved to 1R..."

fir3ant said...

How come 1R on NE? I got stopped for a full R loss on this one (according to my numbers it never went 1R). More losers: FTI 9/15, DSX 4/10, FLR 5/15 (this one went up and down like a roach on crack and I scaled out of it losing 1/2R).
Made some change in TWC, JCG and missed monster runs in UNP and AEM(early).
Sad ending to a reasonable weak...

Anonymous said...

doesn't make sense..chart shows bucy moved much more after the arrow

OONR7 said...

anon, fir: sorry, I mistyped. It was BUCY that moved 1R, not NE. Maybe it was wishful thinking on my part :)

Steve said...

In reading your past posts, back in January, you blogged about your struggles with finding consistency in your trading style. Has things changed? How many R's have you netted per month since January? I am finding the markets a real challenge lately.Thanks.

Anonymous said...

OONR:

we been doing the daytrades for a while now. The idea of putting in so many hr was to make a decent money off if it. Do you think this strategy still makes sense or may be swing trades if at all is the way to go..
i hear that most daytraders lose money in the long haul as daily movement most of the time is noise..some patterns may be valid then again MMs manipulate..
Are there DTs out there who can make at least 50 k/yr on 50k account???

OONR7 said...

Steve: it's certainly been a struggle since that post. I've had moderate success mixed with disappointing failure. The one silver lining is that through the struggle I've been forced to look at things differently and revisit ideas that I gave up on long before. However, I'm happy where I'm at right now and feel like I'm on the path to consistent profit every week (not every day). May was a good month and the key for me is to continue what I've been doing and spot the good entries and manage my exits well.

steve said...

If you don't mind me asking, how many R's were you able to net for May '09? It seems you were finding daily opp every day. Thanks

OONR7 said...

steve: I ended the month at around +5R. Not great, but I had a week where I gave about 6R back and I made some tweaks that will hopefully prevent those kinds of losses. I missed a lot of good trades that I hope to capitalize on if they come my way again.

anon: I think it's possible to make consistent money daytrading (despite not actually doing it myself). For every setup I pass that ends up making money... that's just more motivation. I would like to get to a point in my trading where I execute every trade that comes my way and meets my rules for entry.

steve said...

OOnr7 said "For every setup I pass that ends up making money... that's just more motivation"

Is this the classic gambler's addiction syndrome? I could not help thinking that once we smoke from this crack pipe, we are forever the dealer's whores.

BTW, congrats on ending the month in the red.

bl said...

Many of the $18-31 gap stocks just followed the SPY reversal 5/5': jcg pii gnk gco anf ach clf gme. Worth taking note of. Anyone Short/puts DELL, Long/calls JCG??Interesting Renko sticks on Stock Charts: Nasdaq reversed 1st wk Mar on daily still long

OONR7 said...

steve (or anon posing as steve): way to reveal your true dick self. I was in the black for the month and that's all the matters. That's probably more than what I can say about you... considering your earlier question. Start a blog and let's see what you can do.
As for me, my goal is to take as many good setups as I possibly can and find a way to be confident in taking them. That's gambling??? Really?? So, I assume you're saying that executing a strategy each and every time an opportunity presents itself is gambling? Thanks Professor Numbnuts. Not only are you a dick but an idiot as well.
On second thought, if that's your way of thinking I would DEFINITELY suggest you give up trading.

TL said...

There are people who will not understand what daytrading is in 100 years. It is impossible to take them all seriously every time they feel the need to open their mouth. Plus, it is a waste of positive energy which can be better spent on trading and life. I suggest deleting those comments for the sake of all those who are serious about trading.

OONR7 said...

Tl: you're absolutely correct but I wanted to show 'steve's' comment and respond to it. He started off well :)
I delete a lot of douche comments but sometimes I let a few through to show not everything's roses.
There is some legitimacy in what he says. If you don't have a plan to trade then you're gambling. However, I most certainly have a plan. I'm very comfortable where I'm at and feel the reward will show itself soon.
Thanks for the comments.

Anonymous said...

hey OONR:
i am the douchebag anon. Anon & steve who posted above are innocent. There is no reason to call them all kinda names.
20 R-- MAY (rolling in dough)

Steve said...

00NR7, I sincerely apologize if you misconstrued my post. I did not meant it to be a personal attack on your or your readers' trading. I was inferring from my own trading results my addiction to the game once I had a taste of a few wins. Again I am truly regretful if my comment was misconstrued. I do thoroughly enjoy your blog and have so for many months now.

Also, please forgive me for the ending in the month in red comment. I meant to say black.

OONR7 said...

steve: my apologies. It just across as an attack. I'm normally pretty civil but the fangs do come out from time to time.

doucheanon: I only let your comment through so the readers know what I'm talking about. 20r??? Not unbelievable, but I don't believe it from you. So here's my offer... I'll give you space on my blog to post your trades provided you supply screenshots of your trade log so it can be verified. I'm all for winning daytraders offering up tips and advice on how to do it better. What do you say? Or will you take the douche way out?

Steve said...

"All's well that ends well"

Anonymous said...

oo:
i can supply charts like jamie does, but no way in hell am i going to show my trade logs. U know, i am very private person

OONR7 said...

doucheanon: Oh I see... you're not private when you say you make 20R but you're private when I ask to prove it. I smell bullshit. Does anyone else?

Anonymous said...

Whatever. As long as i can afford to chow down foie gras on champs de elysees at CINQ, LEDOYEN's crispy sauteed langoustines & PIERRE GAGNAIRE's caviar ...i am not complaining..

OONR7 said...

doucheanon: wow, you know all the mainstream luxury restaurants. Gee... wonder if you got a little help from Google.
FAIL.