Jun 2, 2009

No trades

Couldn't find anything I liked and the rest of my WL doesn't look promising. Calling it a day.


greytrader said...

I managed to find something... and got stopped out :-)

OONR7 said...

gt: sorry, brotha.

fir3ant said...

How about CAL 5/10 - nicerun for about 3R's. Also CAH (short 5/15), WMS(short 8/15) and WNR (short,not the best, but went some 5/10).

Hey OONR7, do you get away from the PC after you enter a trade, or u just have nerves of steel?
I find it very difficult to sit and watch my trades. What usually happenes is that I get too nervous and start to scale out, even w/o a real reason. This, inmost of the times (except for the losses, of course) causes meto make much less on the trade than what I should have. Any good advise?

Anonymous said...

CVLT nice NR at 5EMA..it didnot go up much tho..good for 1R
still short SSO

OONR7 said...

fir: didn't catch CAL. Removed CAH from the WL because of the wide opening move and upper/lower tail action. But it was a nice setup when it ran. WMS didn't make it because it was just a bit light on volume - nice move. WNR was a nice setup but a little further up than what I would like. You're definitely looking at the right setups... that's for sure.

As for watching and exiting trades... I really like my exit strategy of moving 1/2 my shares to BE after 1R and the rest at the original stop. I then exit the remaining shares once price closes above/below the 5ema (depending if I'm short or long).
I know what you mean about getting ancy just looking at the P&L and partialing out. I can only speak on my experience but I find I do that because I want to lock in profits after already losing on the day/week/month. I can walk away from the computer when the following conditions occur: a) I've already made good money on a previous trade and, b) the price in my active trade is well beyond BE. Good luck.

bl said...

1/5' WL $10-30: cvlt unfi cal chu qsft. 1/30' Rockets with no gap: wat lm sti isrg axs agn grmn volc tbsi gdp ice. I have to force myself to make a quick early gap WL as after that first 45' it's over for the most part. Might be interesting to look at Rockets 15-30' into open. Some of this stuff is premkt online info I might add to the Market WL(#1700) like isrg say cal sti unfi chu if not on it to begin with. Traded AMZN 90Jul calls 30 min trade for fun and profit. isrg would have been nice option move with upgrade price.

Anonymous said...

i been following your blog for some time.
Now i am getting sick of my mediocre performance. Over at elitetrader.com, i got the idea to upgrade my system
So i am going full throttle.

Buying 4 monitor station
IB, QT (i have)
will subscribe to stockfinder that allows you to code in the scanner like tradestation but the latters commish are double that of IB.
My startegy will be some day trades & some swings.
Hoping for at least 25 R a month.

OONR7 said...

anon: do me a favor and check back from time to time with an update on how things are going. Maybe use a different name than anon so we know.

Anonymous said...

I am having difficulties finding set ups real time too :(