Sep 22, 2009

Tuesday's trades

About my only bright spot today was SGY. But even that turned against me later in the day. My initial position was off the 5-min chart, and I doubled up after a nice pullback on the 10-min. Like I said... it was all for not as price came back down.
Stopped out of ASML, CCL and breakeven on KMX. Finding this week especially choppy. I wonder if the way I've been trading lately just doesn't do well in 'uncertain' market days... like the days leading up to the FOMC.

Also, SpiderScan just came out with a new version which includes a new TDAmeritrade scan - along with some other new enhancements. Do yourself a favor and check out the free trial.

Lastly, I've been thinking for the past 2 months or so if I even want to continue blogging. Personally, I'm just not getting what I hoped (and experienced) when I first started a couple years ago. I don't post charts as a journal... I can do that with a folder on my desktop. I created this blog as a way to interact with other traders. This is a very isolating job and I figured the blog may be the closest thing to having an office-like environment. To bounce ideas off one another and to generally have some fun. Right now, I feel like I'm posting charts just to post charts. It's just not working out.
Granted, I haven't exactly put the kind of energy that I once did (Rise or Fall) but, still, the feedback and interaction is not there.

I'm really having a great time trading right now and personally feel like I've reached a point where I can truly consider this a career. It's taken some time to get here, but it feels good. Not every day will be a great, but what I've always hoped for is consistency and a trading plan I can depend on.

Moving forward, I will probably use this blog to post some very good, textbook trades instead of the day-to-day approach I've used since the beginning. Of course, I can only hope that I have a lot of those to showcase :)

Take care,


Sep 21, 2009

Monday's trades

Quite the crazy day. Started off with a quick 3 strikeouts in IAG, HST and SSRI. Then rebounded with some nice action in AMSC and CMA. It was a bit of a roller coaster and I hope that's not a sign of things to come for the rest of the week.

Sep 18, 2009

Friday's trade

Didn't know what to expect today with OPEX and, well, just being Friday. But I ended up in a really nice trade with BHI. I took my first trade off a break of the 10:40 bar high (nr7) and the next bar was also an nr7 so I ended up buying more shares. At this point I was really looking at how price would interact with the ORH (:15) and it immediately acted at strong resistance. I sold some shares there and again as price came back down. However, since I bought additional shares I was still in good shape.
I ended up partialing on the way up and selling all just below the fib. ext. As you can see from the chart - price continued to skyrocket. Just glad I got nice chunk of the action.

Sep 17, 2009

No trades

Not much interested me and I had a dinner to go to. Hope you all did better.

Sep 16, 2009

Wednesday's trades

Some good, some bad, some missed. I really missed an AGCO gimmie play on the 10-min chart. GNA did well for me and since my entry spread was so narrow I was able to double up on my normal amount of shares and make the small move to the fib. ext. count. FO and TTM were duds.

Sep 15, 2009

Tuesday's trade

A very satisfying day. One trade, no worries... winner. Went long ASH (10-min) after it consolidated off the 5-ema and printed a strong bar above the $42 level. Actually proceeded to tag $44 but I exited safely below the fib. ext. (after some partials). Hope you all had a good one.

Sep 14, 2009

No trades

Too much crazy chart action for me to get involved.

Sep 11, 2009

Friday's trades

Today presented a lot of opportunities early on that worked out well and it seemed like it was going to be a very good day. Unfortunately, the wind behind the early bullish sails completely collapsed... as did my profits. I watched half my profits slowly slip away but I was fortunate to scale out at the right time to end the week on a very solid note. I went long on all stocks: MGM, COV, CLF and TXT. I hesitated on JBHT (long) and BRC (short) and those went on to do very well.

Below are a couple charts and I hope you all have a good weekend.

Sep 10, 2009

Thursday's trades

If it wasn't for PG, I would be very happy with today. My entry (long 11am bar high, :05) just wasn't what I normally look for. I think I was just a bit too cocky.
MW short did work out well and made back the loss and put me in the green. Shorted off a break of the 11:10 bar low and it was a bit of a no-drama, slow moving, safe trade. Didn't make it down to the fib. ext. though. Bummer.

Sep 9, 2009

Wednesday's trade

Just one trade today: ITW long. Price broke above the :15 OR then came back down nicely and printed a strong bar at the 5ema. Entered long on a break of the 10:35 bar high (:05) and exited just below $44. Textbook, pullback trade with very little stress.

Sep 8, 2009

Chop, chop, chop

Here's how I know today was very choppy: I entered 6 trades, 1 made money, 3 were BE and 2 lost money. However, in the end, I was down less than 1R. Go figure.

I was actually up a good amount early on and debated whether I should just cash in. But - as is always the case - I tried to wait it out... wait for the right signal and that ended up costing me cash. But I think that strategy will end up making me much more money than it loses.
Trades (all long): ATI (gain), MAS (BE), TC (BE), NIHD (loss), MTL (one BE and one loss).
Hope you all did better.

Sep 2, 2009

Wednesday's trades

Ever type a word and look at and think "that totally doesn't look right" but it's spelled correctly. Well, the word 'Wednesday' did that to me right now. You can have the last 15 seconds of your life back soon enough.

Today was a little bit of yesterday but not as bad. I was quickly killing stocks from my WL but managed to spot a nice winner in ABX and a loser in MTL.

ABX burst above the :15 OR but then came back down and printed a nice strong cande right at the ORH. The stocked traded beautifully and hit the fib. ext. in no time. I kinda screwed up and oversold at the fib. ext but then realized my mistake and quickly bought back the shares.

MTL was a nice setup with an unforunate result. Missed a good setup in PAY that I didn't want to chase... nice unrealized return :) Decent money today and a profitable week which should make us all happy. I will be off to London tomorrow for a few days and will be back to trading on Tuesday. Let's hope we see some nice action next week.

Oh... and if you haven't already gone to my twitter page, please do
I've been adding more than a few followers and actually had some back and forth comments which helped break up the routine.

Have a great week and weekend. Charts and proof of performance below.

Sep 1, 2009

Short day

There really were no opportunities today for me. Well, maybe a small window to make some quick money on RIMM, but had I entered that position I almost certainly would've lost money on half my shares.

Today was also my first full day of twittering. To myself. By myself. For absolutely no one to see. Okay... there are a few followers (thanks mom, thanks bro).
Again, if you're on the twittersphere, be sure to drop by my twitter page. I could use the company :)