Owner: One Bad Trade URL:http://onebadtrade.blogspot.com/ Join Date: Sat, 10 Feb 2007 21:18:32 -0600 Rating:0 Site Description: A blog used to document my progress in trading. Site statistics:Click here
Daily Summary 2007-07-16 14:51:00 2600 shares+102I caught a nice JCI long in the morning, but I got out a buck to soon again. I gave back some gains later on in the day when my long trades in LVS and TXT failed to work. Read more:Daily
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4400 shares
+9
I had a bias on the short side t... 2007-07-18 15:02:00 4400 shares
+9I had a bias on the short side today when I saw the futures down over 6pts. I found 2 nice shorts and which moved down nicely. I tried to let them ride and ended up giving up most of my profits. Looking at the charts now I see that both stocks had a sizable down move already so I should taken my profits. Then I started losing on a bunch of short positions - 59 cents on NMX, 32 cents on CKH, 20 cents on MFW, 17 cents, on STJ. I was down over $150 at one point.I made a comeback on a 100 share long in BLK. It wasn't easy to hold on after having so many stop outs. I actually went in and out a few times and lost some money before I decided to stick to my position and let it ride. I got in at 171.74 and got out at 173.22 for 1.48.
Daily Summary 2007-07-17 14:41:00 2000 shares+138My gains came from my longs in SKX and BEN. These are the ones that didn't work out. Read more:Daily
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Daily Summary 2007-07-20 14:41:00 6400 shares+24I lost my discipline again. I was trying to go long when the market was selling off. Since I missed the sell off, I tried to pick a premature bottom to go long. I also went back to scalping again because I lost confidence in my entries. My bad habits came back once again. Read more:Daily
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Daily Summary - Spared from losing $300 2007-07-19 14:56:00 8200 shares-74My day followed yesterday's pattern. I kept putting on trades that end up getting stopped out for losses. I had nice winners which came all the way back to my entry points. I was down around $250 after all my losers. Then I caught the first breakout of VMI and manage to cut my loss down to around $100. If I wasn't greedy I would have been net positive after the trade. After that I went downhill again and followed a losing path. I was down $300 at my worst. I was hoping and praying for a comeback. I lucked out and when I caught VMI. I don't like days like these. If I were only a bit more selective it would have been a nice day. VMI Read more:Daily
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Daily Summary 2007-07-23 13:19:00 2200 shares+138I caught a nice short in CCJ in the morning and was up over $200. I experienced a lot of hesitation and doubts when I started giving some money back. It is hard to trade when I all I want to do is preserve my gains. Read more:Daily
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Consistency 2007-07-22 03:43:00 Trading should be easy, but sometimes traders make it too complicated. I have been thinking about one of the principles of trading consistency mentioned in Trading in the Zone.I completely accept the risk or I am willing to let go of the trade.I was doing well last Monday, and Tuesday but somehow lost my focus as the week progressed. When I was focused, I put on a trade with a stop and let it work. I knew and accepted my risk. During Wednesday I got stopped out frequently and fear crept in again. The same thing happened on Thursday. By Friday I was a bit discouraged and I lost my ability to see any setups. When I got good trades I often exited earlier and missed out on the gains I would have if I followed my exit criteria. I think in order for me to really gain consistency I will have to let go of my fear of losing money and let my trades work. Read more:Consistency
Daily Summary 2007-07-25 15:07:00 6200 shares+128I had some internet problems in the morning and lost half of my esignal charts. After I fixed my charts I already missed the morning sell off. I forced a couple of trades and ended losing around $100. I came back in in the end with a long in MAN and CCJ. Read more:Daily
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Daily Summary 2007-07-24 14:25:00 5800 shares+5I was trying to go long the whole day. Looks like the short side is where the money is made. Read more:Daily
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Earnings play 2007-07-24 04:05:00 OMC has been in a $5 range for over eight months. It will report earnings today. There could be an explosive move. Read more:Earnings
Daily Summary 2007-07-27 14:56:00 7200 shares-13I gave away all my profits in one bad trade. I thought the market would make a strong rallying into the close so I was looking for a good long. I saw BLK when it was at 165 and I hesitated. It kept moving up and I got sucked in. I was looking at the 15 minute chart when I made the trade. If I looked at the 5 min, I would not take the trade. I was chasing the stock looking to make a scalp and lost 70 cents instead. Read more:Daily
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Daily Summary 2007-07-26 14:36:00 9000 shares+145The market had great volatility but I messed up my trades by taking profits too soon. Then I tried to play the bounces which cost me half of my profits. It is hard to follow my plan. I am making some small gains daily, so maybe I can gain some confidence and trade like Dino one of these days. Read more:Daily
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Daily Summary 2007-07-30 14:31:00 4800 shares+120There were nice moves today but I was wrong in my assessment. After missing the move up I wanted to make some happen. After last week's weakness I have a bias in the short side so I figured I short MTW when it couldn't break resistance at 76.00. In a strong day like today I should have waited for a double top in the 15 minute chart if I were to go short. After the loss I switched to the long side. Longs in MFW and TSL helped me recover. Read more:Daily
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Daily Summary 2007-08-02 14:07:00 5800 shares+271I caught a good trade in JCG during the 10:00 am reversal time. I found the stock when I flipped through my watchlist yesterday. I noticed that it closed weak yesterday even though the market closed strong. In the morning the market was moving up but this stock could not make new highs so I took a short when the market started selling off. After the nice win I got a little excited and lost $80 right away. I realized that and regained my patience. I caught scalps in OII and TGI later which boosted my gains. Being selective helps because it decreases my chances in getting into bad trades where I would watch like a deer in the head lights as the stock rips against me. Read more:Daily
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RAS - what a decline 2007-08-02 13:22:00 Here's a daily chart of RAS, a mortgage lending company. What a meltdown. I think DT traded this guy too and I started trading it because of him. I some how lost track of this stock when I made new watch lists.Next time I see some industry wide problem I will be sure to check out all related stocks in that sector. History often repeats itself. There's got to be some undervalued stocks in this sector right now.
Daily Summary 2007-08-01 14:40:00 5600 shares+340After yesterday's loss I was trading very cautious today. I waited until I have a better guess of the market direction. I caught a nice short in CGX for 2 pts on a hundred shares. Other trades were little scalps that I took in direction of the trend. Read more:Daily
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Daily Summary - I blew up today 2007-07-31 13:01:00 8200 shares-714I had a mini blow up today. I should have stopped when I was down $300, or $500 but I kept trying to come back. I was in a state of desperation so it is wiser to stop trading I guess. Let me see how the day started. I traded before there was an established range, put on my trades before 10am. So when the reversal time comes along I got crushed in all my longs. I also picked today to try holding my stocks till I get stopped out. I had a lot of chances to get out with small losses but I stood firm and I eventually got stopped out for large losses. If I have waited I would probably caught some nice shorts off the 10am reversal time. Then came the bounce and I kept trying to go long again in a couple of stocks but ended up losing some more. I did some crazy things and put on 500-1000 share positions. Those ended up hurting me a lot. Read more:Daily
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Daily Summary 2007-08-03 15:12:00 10000 shares-147Today I got myself chopped up in the morning. I took a bunch of small losers but it still added up. When I did get into good trades I took profits early. I also did not expect a late day sell off. Read more:Daily
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Daily Summary - Caught something 2007-08-08 14:29:00 3600 shares+815I caught 3 great trades today. My first winner was OII and it was great to finally catch something
over $300. That's probably how much I made for the whole month of July. I was also a lot more selective since I am not desperate to try to make something for the day. I found CGI and ORA. The broad market and a lot of stocks have been rallying for 3 days now. Today may mark the top of the retracement as they hit their respective resistance levels, like the 20 day, 50 day and moving averages. If you look at the daily charts of the SPY, DIA, QQQQ, you can see that this rallied on declining volume. Read more:Daily
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Daily Summary 2007-08-07 14:50:00 7000 shares+89There were a lot of opportunities and I did catch a bunch of movers in the morning but I did not make much because of my profit targets. I think my target profits were too aggressive because I ended up letting my 50 cent+ moves turn into a lot less. Then there were the impulsive trades that cost me a big portion of my profits. Read more:Daily
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Daily Summary 2007-08-06 14:39:00 2600 shares+43I spent most of the day on the side lines. I did not have much conviction on either side. I nearly blew away the little gains that I have in my last trade when I shorted 100 shares RDN at 23.15. Stock ran all the way up to 24.49 in 1 minute. It fell back quickly and I got out break even. I was lucky on this trade. I shorted into strength and held on to a loser. Read more:Daily
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Daily Summary 2007-08-10 14:21:00 6000 shares+446The first hour was a bit tough for me and I did not find anything. I was unsure of my positions and got chopped around. Then I realized I needed to look for longs because the market was being bought up. I found RYI and made most of my gains in the stock. Read more:Daily
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Daily Summary 2007-08-09 14:47:00 9600 shares+456I was a bit overwhelmed in the morning because my instinct told me to buy the gap down as things started to turn but it goes against my rules to chase. I just watched some stocks rip up over 5 bucks. I got chopped around a bit in the morning and was down a little. At around 12:45 CHE broke down. This was one of the stocks that I found yesterday as I was scanning through my charts. It looked like it will fill the gap in the daily chart so I put it on my watch list. Read more:Daily
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Daily Summary 2007-08-13 15:09:00 10404 shares+136Good to end the day with some profits. Read more:Daily
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MGA - Possible long term play 2007-08-12 15:30:00 TEL AVIV (MarketWatch) -- Magna International Inc. said late on Saturday that it would buy back as many as 20 million of its Class A shares for a maximum US$1.54 billion. storyStrong breakout in the monthly chart and its now at a pull back.MGA monthly chart Read more:Possible
Yahoo - bet with the company's president 2007-08-12 15:20:00 Came across this news bit and thought it might be interesting.NEW YORK (Reuters) -- Yahoo
Inc. President Susan Decker purchased about $1.1 million of the Internet company
's shares this week just after the stock hit a three-year low. read storyAlso check out the weekly chart of yahoo. She buys right at the weekly support level. Does she know something or is she a trader also?
Daily Summary 2007-08-17 14:54:00 3400 shares-315My trading was off today. Read more:Daily
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Daily Summary 2007-08-16 15:04:00 12200 shares+723Today was an awesome day for day traders. Shorts made money during the sell off and longs made money when the market reversed. I am happy to make money but I see that I can do much better. I saw the head and shoulders reversal pattern but hesitated to go long for some reason. When I finally went in I took some scalps with small size even though I feel very strongly that the stock was going up. If I can continue to put up positive days I think my confidence will grow and I will make some great trades. Read more:Daily
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Daily Summary 2007-08-15 14:30:00 5800 shares+180I started the day with a couple losers. I kept trying to short in the morning while the market was moving up. The market always provide opportunities for the patient trader. I guess today the ideal time was around 1:45 when the market made a retest of the highs but failed to break out. Read more:Daily
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Daily Summary 2007-08-14 14:12:00 3600 shares+401Had a nice trade in UIC in the morning. Did not catch anything after that. The market was weak the entire day. The second leg down was a bit choppy and a lot of the stocks I have up didn't move much. Read more:Daily
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