Owner: The Denarii Trader URL:http://trader-denarii.blogspot.com/ Join Date: Sun, 05 Aug 2007 15:56:30 -0500 Rating:0 Site Description: A day traders journal on how he is trying to learn to make a living from the markets Site statistics:Click here
Caddyshack Returns 8/22/2007 2007-08-22 19:05:00 When I heard this, I was on a stair master machine working out. I nearly fell over and hurt myself laughing. From one of my old time favorite "Let's get drunk and watch a silly movie" movie, Bill Murray I guess decided to recreate his CaddyShack role. Read the story. It kills me. I got to run out to my local Walmart and get a copy of Kenny Loggins greatest hits. Read more:Returns
Wednesday Trade Review 8/22/2007 2007-08-22 15:25:00 Here is my favorite stock and all the signals I missed today. I should have just watched all day long instead of all the dinking around I did. Maybe one day I will learn. I took one of these early in the day but tried gaming it and lost. Had orders in at the 1:15 signal but missed and I had the order typed out for the one near 2:35 but for some dumb reason I did not hit enter. I had it setup right after AKS broke 35 on the downside thinking 34.70 would hold and that is the area of the next buy. Dummy me.-On a different issue, I finally placed my first order using the Trade
Station. It is really cool - even has a voice telling you were filled.-The numbers on this very slow day:Stocks: gross -36 net -42 shares traded 1000Stock futures: gross +5 net +0 contracts traded 2Forex: none but my brain is telling me I should be long the EUR/USD Read more:Wednesday
Wednesday Morning Thoughts 8/22/2007 2007-08-22 12:07:00 These thoughts are late because I did not have any this morning. This market looks to be eating a bunch of traders up. I tried one trade and got stopped moments later. I have missed a couple of others.-My main reason for this post is I am pissed at the nuts in DC and this subprime mess. I am so sick and tired of people wining about this. I do not understand. The rich are going to get screwed for this. The middle class is going to get no help for playing by the rules and there is the possibility that a bunch of people who never should have owned homes in the first place - will get help from the government. Give me a break. If I see one more example of a person who is having trouble making it - who was using credit cards to buy things they should not and then they refinance their debt with subprime to pay off their credit cards and/or buy a motor cycle and/or remodel their kitchen and/or make a play are for their children in the backyard that they deserve - I am going to throw u Read more:Morning
, Wednesday
My day sucked - period 8/28/2007 2007-08-28 14:39:00 I did not lose much money but I could scream. Other than I did not trade well, everything wanted to go wrong. First I was watching a trade for about 15 minutes and was ready to hit the bid with a short order, my wife IM's me and the IM screen appears over my order screen. By the time I move it the trade is gone. I need to remember to open my IM's from people I think I will talk with and then move them where they will not interfere. Then I was putting some tools away, cleaning up my desk, when I trip and hit my face on some hanging stuff. I spent the next 30 minutes trying to bend my glasses back in shape. Then I tried to download a file on to one of my PC's which killed it. I had to run scans and clean up crap being concerned maybe I downloaded something bad. That kill some time. And finally the lawn care crew came out and cut the grass. I do not understand but the Internet cut out about a dozen times while I could hear them. I could scream. I should have just got a boo
Tuesday Morning Thoughts 8/28/2007 2007-08-28 07:05:00 If you have any hope on figuring out where you are going, you need to know where you have been. From the peak of the movement after the Fed rate cut, we really have not gone anywhere fast. We have entered a pattern of going up and down now. We then should go up today. We are getting close to end of month and that may get the market a pump. A very important are of the market would be Dow 13180. If we go much below that, we could go a lot farther down. My two cents as the coffee tries to work its magic. Read more:Morning
, Tuesday
Monday Trade Review 8/27/2007 2007-08-27 14:47:00 The trading Gods blessed me with a gift today. One of the ways I try to make money is, if the bid/ask is crazy on a stock, try picking some up or shorting it. An example is SAI today. I have traded this stock and I know unless some crazy news is out there, it does not open a big amount down or up. The bid/ask was 16.90/17.94. It had closed at 17.82. No news so I bid at 17.15 and got 200 shares. I tried to sell at 17.77 on open but did not get filled so I dumped them. A nice simple trade. 99% of the time, the specialist or market maker gets these. Once in a great while I am lucky. One word of caution, you must understand how the stock trades. -Other than that, I did little today. Market was very slow and hard to game. I had my doctors appointment and hang some shades to make the wife happy. That killed most my day.-The numbers:Stocks: gross +90 net +86 shared traded 800Stock futures: gross +15 net +10 contracts traded 2Forex: none Read more:Monday
, Trade
Monday Morning Thoughts 8/27/2007 2007-08-27 08:21:00 I think the theme of the day will be DRINK LOTS OF COFFEE.-Very little is moving. CROX is going crazy. CFC is getting hit again. The the craziest stock is ACH - up 25% so far.-I think I will do a lot of reading today. Read more:Morning
, Monday
, Monday Morning
Sunday Night Thoughts 8/26/2007 2007-08-26 19:39:00 I do not like this market right now. I think we will have a higher market this week - drifting up slowly. This decline happened too orderly -too easy. The Fed came in and everything was all better. Too simple and not enough pain. I am looking for the decline to possibility start again once all the players come back in September.-The forex markets have gained about 50% of what they lost for the majors. I am just not following these will enough too trade. I hope that I have more time to trade - I will.-Tomorrow should be interesting day or I mean later this week. I have another Cat Scan done to see if I have something growing in my lungs. I hope to know the results by Wednesday. I do not think there is anything wrong but who knows - maybe a Black Swan.-On another note, I am posting a few posts on The Trading Goddess website. You can find me there too. I will keep my results, trade reviews and thoughts here. Read more:Sunday
, Night
, Sunday Night
Friday Trade Review 2007-08-31 12:41:00 None! -I have spending the day getting ready for going to the beach next. I will be at Beach Haven Crest, NJ. You could do a Google Map on it and see the Satellite picture of it. The beaches are great there. The Island is 13 miles long and it becomes very quiet after Labor Day. Something I love. Sun, book reading and great Seafood.-The Internet sucks down there but I may take a peek or two at the markets and who knows maybe a post once or twice. I will be looking forward to getting back to the normal markets mid to late September.-The numbers:Stocks: noneStock futures: noneForex: none Read more:Friday
, Trade
Friday Morning Thoughts 8/31/2007 2007-08-31 08:00:00 Last day of the mouth - thank god. I hate this government. So many people are turning to fall all over themselves to save a bunch of people from foreclose when they should not of had a house and a loan in the first place. They are trying to rig the game again. We really need to clean out the system instead of just trying to keep the game going.-The market reminds me of this:"When I get to the bottom,I go back to the top of the slide,Where I stop and turn,and I go for a ride,Till I get to the bottom and I see you again.Yeah, yeah, yeah." - Beatles - Helter Skelter-That sums the market up pretty good. Read more:Friday
, Morning
Thursday Trade Results 8/30/2007 2007-08-30 14:44:00 I did one trade today. I spent too much of my day trying to get ready for trading when I could back from the beach. I am getting rid of my TD account and splitting the money between IB and TS. I think TS had a great platform for trading futures so my futures trading will be there. I will use my IB as my stocks, options and forex accounts. It will be my backup futures account. The one major drawback to TS is you must have separate accounts for each type of trading and no easy way of moving money between. So I will have about 75% of my money will IB and the rest in TS. I will keep my TD account open for a while with just a little money in it. I also have been setting up in an more organized fashion - my QT setup. I like the fact I can page thru layouts quickly and bring up 10 to 20 stocks relatively fast - about 30 seconds. This will allow me to compare stocks in a sector quickly.-If there are any great tools out there people are using - especially the free ones - please leave a Read more:Trade
, Thursday
A trade Idea 2007-08-30 10:31:00 Buy RACK at 11.90-12.00 area and sell at 12.50-12.75 area. Shampoo, Rinse, and Repeat.-I am pissed I did not think of this earlier. I have talked about Rack for weeks in some chat rooms.
Thursday Morning Thoughts 8/30/2007 2007-08-30 07:26:00 My heads is spinning. I spent yesterday looking left, looking right, looking left, looking right. Remember I was watching tennis all day. Now I come back to looking at the markets and I feel like I am looking up, then looking down, then looking up, then looking down. My neck hurts.-To continue to make my neck to hurt - Big Mouth's show was a repeat. Subject - Spotting Tops and Bottoms. I think I will thinking a lot about this subject next week when I am at the beach. Ouch - my poor little neck.-As I type, the market is not reacting much to the GDP numbers. Read more:Morning
, Thursday
Stupid Rookie Mistake 9/26/2007 2007-09-26 11:45:00 If you look at the two charts above, one daily, one interday, you will see the general idea for the trade. I wanted to buy into support at 37.00 and again at 36.50 with a stop a little lower. When the stock was getting to 37, the bid ask was crazy. I setup my first order and forgot to adjust my buy to 37.01 as IB defaults the ask as the buy price. I hit enter and found I bought the stock a lot higher (25 cents) than I wanted too. I freaked and sold the position quickly not thinking about why or how I was doing things. Support 37 held nicely and it could have been a good trade. I should have taken one breath and bought a little more at 37 and leave the trade on. Stupid
me. Read more:Rookie
, Mistake
Wednesday Morning Thoughts 9/26/2007 2007-09-26 07:27:00 Maybe it is just that I am an old-fart but little changes in certain routines throw me off. The wife bought a new coffee machine a couple of weeks ago. It is not that different then the old one but it just not the old one. We had the old one for about 5 years. You should just not mess with things I need to operate before the coffee takes effect.-Today, I nearly kill myself in the kitchen. The wife waxed the wood cabinets and some of the wax got onto hardwood floors. We live in a Chinese house meaning you never wear shoes. Now I got to nearly kill myself each morning as I try to remember how to make coffee.-Life at times is so unfair. Read more:Wednesday
, Morning
Tuesday Trade Review 9/25/2007 2007-09-25 15:07:00 My best trade of the day was my previous post. I am really tired so I am going to make this short. I also spent 3 hours working on my computer trying to make everything play nice together. I would hate to buy another one. There was plenty of good trades out there even with the markets being so flat. I just could not get myself in the right place at the right time. The computer did not help and then I was so pissed. Only good is after I cleaned it - it seems to be working fine.-The numbers:Stocks: gross -45.41 net -59.41 shares traded 2800Stock Futures: gross +80 net + 75 contracts 2Other futures: noneForex: none-Regardless of these types of days - it is still much better than going to the office. Read more:Tuesday
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Mid Day Thoughts 9/25/2007 2007-09-25 11:21:00 Each morning as I wait for the coffee to take effect, I watch the markets in the pre-pre-market. I have noticed that if there is a small decline on no news and the YM's start finding support at the same level over and over - it is a good place to buy and look for a rally in the 7-8:30 time frame. I never play this game after 8:30 or if news is causing the move.
Monday Trade Review 9/24/2007 2007-09-24 15:11:00 After all was said and done, I made a big $15 today. Very frustrating and sad because I am so close. I guess this shows the small difference between being a good trader and an average trader.-If you look at the trades above and the post below, I had 4 big misses in the stocks I was trying to trade. I believe between HAR, NILE, LMC and ZINC - I should have been able to make about $1500. Also late morning, MissedTrade
pointed out a trade I should have taken in shorting the YM futures. This would have generated $300-600 depending if I sold one or two contracts. This should have been an easy day for me even thou I am not yet gifted in finding good quality trades on my own.-The numbers:Stocks: Gross +5.50 Net -5.50 shares traded 1000Stock Futures: Gross +30 net + 20.40 contracts 2Other futures: noneForex: none Read more:Monday
Todays Frustration 9/24/2007 2007-09-24 12:08:00 I keep missing the Big Mouth stocks by 10-25 cents. Today I missed ZINC by 1 penny and picked the top tick in LMC but did not get filled. -Right stocks, right idea but no fills. I need to figure out how to get into these stocks with out getting hurt in a fast crazy market of Big Mouth stocks.-So I assume that LMC would get to 13 and ZINC to 24-25. I am thinking I should then leg in LMC at 12.75 with 200, 12.85 with 400, 12.95 with 600, 13.05 with 800 and 13.15 with 1000 share orders. And do the same with ZINC.-Frustrating game today. Read more:Frustration
Monday Morning Thoughts 9/24/2007 2007-09-24 10:01:00 We had a huge run in the Naqdaq as it hit the new recovery high but after five minutes of big buying everything stopped. I have been trading around going both long and short today. Basically keeping my broker happy. Turning to figure out the sector of the day either up or down. Read more:Morning
, Monday
, Monday Morning
The Fed and Market views 9/23/2007 2007-09-23 19:55:00 The above charts are Crude, Euro, TBond and Dow futures - 1 month/1 hour charts.-I wanted to wait a couple of days to see how the markets reacted to the Fed cut and wanted to revisited my views
that I believed the markets had a good chance of testing the recent lows or breaking them.-This is how the markets have voted so far:Crude Oil: the Fed is DumbGold: the Fed are idiotsDollar: how dumb can the Fed be?Mortgage Rates: the Fed are moronsT-Bonds: the Fed is brain deadStock Market
s: "Let's start partying like it is 1999"-The bottom line: As long as there is not some crazy hidden problem out there, the stock market may have a problems with new highs but should work higher over the longer term. The Fed and other Central Banks do not want the markets to go down. The places to be are gold, oil, natural resources and dollar related plays.-I think the Fed notes will say something like this "Here have another bottle of JD. You can always stop drinking tomorrow". I do not know about you but I
Friday Trade Review 9/21/2007 2007-09-21 18:40:00 I did not do much trading today. I chickened out too soon of a RIG trade again. Sat on my hands for a couple of GS trades until either my original stop or price target was hit (I can sit on my hands - amazing) and had one other in RDC.-I am going to post an entry on a group of trades I should have made instead on going into the details of my own. I hope to do that later tonight or early tomorrow. I had more system problems today and it took me 2 hours to get my oil changed. Thanks God it was express service or who knows how long it would have taken me.-The numbers:Stocks: gross +24 net +16 shares traded 1400Stock Futures: noneOther Futures: noneForex: none Read more:Trade
, Friday
Friday Morning Thoughts 9/21/2007 2007-09-21 09:34:00 I got up late today and I have been trying to catch up ever since. It shows in my trades - two blown ones so far. Got to run - later. Read more:Morning
, Friday
Thursday Trade Review 9/20/2007 2007-09-20 20:59:00 This was my first trade of the day. I was going to build a swing position in XHB on its pull back from its recent highs. This is assuming they have bottomed and like the rate cut. I nearly caught the bottom of the first move down and quickly had a 25 cent profit. Once I heard that Uncle Ben and two of Bush's housing guys were going to speak (Larry, Mo and Curly), I got nervous. Quickly, the ETF and parts of the market began to sell off once they started talking. I said screw it and took the position off. The ETF flew for most of the rest of the day. I will look at this one again tomorrow.My second trade of the day was RIG. This is my favorite driller. It gaped up and I wanted to buy a HOD which to my surprise slipped a tick into my favorite on the fill. It started moving up slowing and once I had a 30 cent profit - I moved my stop to break even. Two seconds after I did that, I got taken out. The stock dropped 75 cents in about 90 seconds. I should have left my stop at 50 ce Read more:Trade
, Thursday
What was most of the day? 9/20/2007 2007-09-20 20:56:00 There was some action is some places but talk about a dull day for the major averages.
Mid Day Thoughts 9/20/2007 2007-09-20 11:47:00 This is what I love about blogging. There are thousand of threads all over the place to laugh with, help out, give support when you are down. It is like a VF - Virtual Family.It is funny - I found it very easy to trade when I didn't care and I had a small account. I took crazy risks and made money over a period of time. Suddenly, I had more money to trade with and I started thinking - I could really change my life for the better if I could only learn how to trade better. I tighten up. I tried to trade smarter, risking less. The results - I traded less and made less. Then I explored a couple of trading career ideas as my day job started falling apart. I found myself watching/trading the market more and more. One of my great fears of trading full time was being in the basement with no human contact. Bingo - the Internet and the blogger/chat room community solves that.One day, I sat down and thought do I love truly the markets enough to leave my job? At that time a bunch of family/job/he
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